https://www.taxtmi.com/caselaws?id=203102 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal and affirming the allowance of bad debts as business loss for the assessee under section 36(1)(vii). The Tribunal relied on the Special Bench ruling in Dy. CIT v. Shreyas S. Morakhia, emphasizing that the bad debts were directly related to the assessee's business activities as a stockbroker, and rejecting the revenue's argument regarding SEBI guidelines violation. en-us Fri, 22 Oct 2010 00:00:00 +0530 Sat, 25 Aug 2012 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203102 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal and affirming the allowance of bad debts as business loss for the assessee under section 36(1)(vii). The Tribunal relied on the Special Bench ruling in Dy. CIT v. Shreyas S. Morakhia, emphasizing that the bad debts were directly related to the assessee's business activities as a stockbroker, and rejecting the revenue's argument regarding SEBI guidelines violation. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203102