https://www.taxtmi.com/caselaws?id=70116 The Tribunal allowed the assessee's claim for deduction of provision for doubtful debts, foreclosure premium on loans, and directed the allowance of depreciation on vehicles. The claim for deduction u/s 35D was remitted for verification. However, the change in the method of accounting for hire purchase transactions was rejected. The Tribunal directed the recalculation of interest u/s 234B and allowed the deduction of provisions for doubtful advances as per RBI guidelines, with instructions for the AO to verify compliance with relevant provisions. The appeals were partially allowed, with specific directions for verification and allowance of claims. 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 The Tribunal allowed the assessee's claim for deduction of provision for doubtful debts, foreclosure premium on loans, and directed the allowance of depreciation on vehicles. The claim for deduction u/s 35D was remitted for verification. However, the change in the method of accounting for hire purchase transactions was rejected. The Tribunal directed the recalculation of interest u/s 234B and allowed the deduction of provisions for doubtful advances as per RBI guidelines, with instructions for the AO to verify compliance with relevant provisions. The appeals were partially allowed, with specific directions for verification and allowance of claims. Case-Laws Income Tax Mon, 05 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70116