Bad debt deduction writing off in books suffices for tax deductibility; withdraw appeals contesting irrecoverability. A claim for deduction of a bad debt is admissible if the debt or part thereof is written off as irrecoverable in the assessee's books of account for the relevant year and it fulfils the conditions stipulated in the governing statutory provision; accordingly, no appeals should be filed on the ground that irrecoverability was not independently established, and pending appeals on that issue may be withdrawn.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bad debt deduction writing off in books suffices for tax deductibility; withdraw appeals contesting irrecoverability.
A claim for deduction of a bad debt is admissible if the debt or part thereof is written off as irrecoverable in the assessee's books of account for the relevant year and it fulfils the conditions stipulated in the governing statutory provision; accordingly, no appeals should be filed on the ground that irrecoverability was not independently established, and pending appeals on that issue may be withdrawn.
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