https://www.taxtmi.com/caselaws?id=71495 The Tribunal dismissed the appeal, affirming that the provision for doubtful overdue instalments under Hire Purchase Finance Agreements could not be treated as bad debts. The adjustment made by the Assessing Officer under section 143(1)(a) was justified, and the application for rectification under section 154 was rightly rejected. The Tribunal emphasized that bad debts must be irrecoverable and perceived as such by the assessee, and the provision for doubtful debts did not meet these criteria. The Tribunal relied on various judicial precedents to support its conclusions. en-us Fri, 10 Feb 1995 00:00:00 +0530 Mon, 25 Apr 2011 12:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71495 The Tribunal dismissed the appeal, affirming that the provision for doubtful overdue instalments under Hire Purchase Finance Agreements could not be treated as bad debts. The adjustment made by the Assessing Officer under section 143(1)(a) was justified, and the application for rectification under section 154 was rightly rejected. The Tribunal emphasized that bad debts must be irrecoverable and perceived as such by the assessee, and the provision for doubtful debts did not meet these criteria. The Tribunal relied on various judicial precedents to support its conclusions. Case-Laws Income Tax Fri, 10 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71495