https://www.taxtmi.com/caselaws?id=75013 The case involved various issues including the method of accounting income from bill discounting, claim for 100% depreciation on leased assets, allowability of provisions for NPAs, recognition of lease equalization charges, and write-off of bad debts. The Tribunal upheld the recognition of income from bill discounting at the time of discounting, disallowed deductions for provisions towards NPAs, included lease equalization charges in computing book profit, and rejected the claim for deduction of bad debts based on RBI norms. The decisions emphasized adherence to the Income-tax Act over RBI guidelines and the requirement for actual write-offs to claim deductions. en-us Mon, 09 Feb 2009 00:00:00 +0530 Tue, 16 Mar 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75013 The case involved various issues including the method of accounting income from bill discounting, claim for 100% depreciation on leased assets, allowability of provisions for NPAs, recognition of lease equalization charges, and write-off of bad debts. The Tribunal upheld the recognition of income from bill discounting at the time of discounting, disallowed deductions for provisions towards NPAs, included lease equalization charges in computing book profit, and rejected the claim for deduction of bad debts based on RBI norms. The decisions emphasized adherence to the Income-tax Act over RBI guidelines and the requirement for actual write-offs to claim deductions. Case-Laws Income Tax Mon, 09 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75013