https://www.taxtmi.com/caselaws?id=117615 The Tribunal allowed the appeal, directing the AO to allow the assessee's claim for bad debts amounting to Rs. 13,23,598 under section 36(1)(vii) of the Income-tax Act. The Tribunal held that the write-off of the debt was justified as it was a prudent business decision after all recovery efforts failed, in compliance with the legislative intent behind the amendment to section 36(1)(vii). en-us Mon, 28 Feb 2005 00:00:00 +0530 Mon, 25 Jun 2012 13:50:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117615 The Tribunal allowed the appeal, directing the AO to allow the assessee's claim for bad debts amounting to Rs. 13,23,598 under section 36(1)(vii) of the Income-tax Act. The Tribunal held that the write-off of the debt was justified as it was a prudent business decision after all recovery efforts failed, in compliance with the legislative intent behind the amendment to section 36(1)(vii). Case-Laws Income Tax Mon, 28 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117615