https://www.taxtmi.com/caselaws?id=75611 The High Court dismissed the appeal regarding the allowability of bad debts deduction under Section 36(1)(vii) of the Income Tax Act for the Assessment Year 1998-99. The court upheld the Tribunal's decision that post-amendment from 01.04.1989, proving irrecoverability of bad debts was not necessary, and the writing off in the accounts sufficed as compliance. The court also rejected the Revenue's request for remand, as the bad debts were acknowledged to be written off, affirming no need for further verification. en-us Mon, 12 Apr 2010 00:00:00 +0530 Mon, 31 Dec 2012 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75611 The High Court dismissed the appeal regarding the allowability of bad debts deduction under Section 36(1)(vii) of the Income Tax Act for the Assessment Year 1998-99. The court upheld the Tribunal's decision that post-amendment from 01.04.1989, proving irrecoverability of bad debts was not necessary, and the writing off in the accounts sufficed as compliance. The court also rejected the Revenue's request for remand, as the bad debts were acknowledged to be written off, affirming no need for further verification. Case-Laws Income Tax Mon, 12 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75611