https://www.taxtmi.com/caselaws?id=201401 The High Court dismissed the appeal challenging the Tribunal's order under Section 260A of the Income Tax Act, 1961 for the Assessment Year 2004-2005. The Court upheld that post-amendment to Section 36(1)(vii), establishing a debt as bad is not mandatory; it suffices if the bad debt is written off as irrecoverable in the accounts. The matter was remitted back to the Assessing Officer for verification on the write-off aspect as the Assessing Officer had failed to confirm the write-off in the accounts of the assessee. en-us Thu, 30 Sep 2010 00:00:00 +0530 Thu, 06 Jan 2011 23:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201401 The High Court dismissed the appeal challenging the Tribunal's order under Section 260A of the Income Tax Act, 1961 for the Assessment Year 2004-2005. The Court upheld that post-amendment to Section 36(1)(vii), establishing a debt as bad is not mandatory; it suffices if the bad debt is written off as irrecoverable in the accounts. The matter was remitted back to the Assessing Officer for verification on the write-off aspect as the Assessing Officer had failed to confirm the write-off in the accounts of the assessee. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201401