Deduction u/s 36 (1) (vii) - ITAT allowing pure loan as Bad debt ...

Income Tax

November 17, 2021

Deduction u/s 36 (1) (vii) - ITAT allowing pure loan as Bad debt - bad debts or part thereof taken into account in computing income of the assessee for an earlier Assessment Year before such debt or part thereof is written off is satisfied. - Tribunal has not committed any perversity or applied incorrect principles to the given facts - HC

View Source

← Previous Next →

Deduction u/s 36 (1) (vii) - ITAT allowing pure loan as Bad debt ...

Income Tax

November 17, 2021

You may also like:

Bad and doubtful debts written off disallowed – provision for bad and doubtful debts cannot be allowed u/s 36(1)(vii) - AT

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Allowance of of bad debts - advances given by the assessee had become actually bad - deduction u/s 36(1)(vii) cannot be denied - HC

Deduction towards Provision for bad debts - Addition u/s 36(1)(vii) - The ITAT found that the assessee had made a provision for bad debts but had not actually written...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Disallowance u/s 36(1)(vii) - bad debt claim in respect of identified debts - The Tribunal found no flaw in the information provided by the assessee regarding the bad...

Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

Bad debts versus Provisions for bad and doubtful debts - rural banking - Scope and ambit of the proviso to Section 36(1)(vii) - provisions of Sections 36(1)(vii) and...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Quick Updates: