https://www.taxtmi.com/caselaws?id=76253 Section 36(1)(vii) does not permit deduction for a mere provision for bad and doubtful debts; the claim must reflect an actual write-off of irrecoverable debt, and the material on record must be examined to verify that position. The discussion also clarifies that deduction under section 80-0 is confined to income computed under the Act, so it must be worked out on net income after direct expenses, read with sections 80AB and 80B(5), rather than on gross receipts. The text therefore emphasises verification of the debt write-off and the statutory requirement to compute export-related deduction on income net of expenses. en-us Wed, 25 Jun 2008 00:00:00 +0530 Thu, 17 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76253 Section 36(1)(vii) does not permit deduction for a mere provision for bad and doubtful debts; the claim must reflect an actual write-off of irrecoverable debt, and the material on record must be examined to verify that position. The discussion also clarifies that deduction under section 80-0 is confined to income computed under the Act, so it must be worked out on net income after direct expenses, read with sections 80AB and 80B(5), rather than on gross receipts. The text therefore emphasises verification of the debt write-off and the statutory requirement to compute export-related deduction on income net of expenses. Case-Laws Income Tax Wed, 25 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76253