https://www.taxtmi.com/caselaws?id=70116 Provision for doubtful debts and doubtful advances may be treated as a commercial write-off when debited to the profit and loss account, and RBI-compliant provisioning for non-performing assets can be deductible for an NBFC subject to verification. Foreclosure premium paid on premature repayment and refinancing was treated as revenue expenditure deductible in full in the year incurred because it was incurred to reduce future interest cost. A tax-driven change from sum-of-digits to capital recovery accounting for hire-purchase income was disallowed as not reflecting bona fide income recognition. The section 35D claim required verification of the statutory conditions and was left for amortised allowance where those conditions were met. en-us Mon, 05 Feb 2001 00:00:00 +0530 Thu, 14 Apr 2011 14:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70116 Provision for doubtful debts and doubtful advances may be treated as a commercial write-off when debited to the profit and loss account, and RBI-compliant provisioning for non-performing assets can be deductible for an NBFC subject to verification. Foreclosure premium paid on premature repayment and refinancing was treated as revenue expenditure deductible in full in the year incurred because it was incurred to reduce future interest cost. A tax-driven change from sum-of-digits to capital recovery accounting for hire-purchase income was disallowed as not reflecting bona fide income recognition. The section 35D claim required verification of the statutory conditions and was left for amortised allowance where those conditions were met. Case-Laws Income Tax Mon, 05 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70116