https://www.taxtmi.com/caselaws?id=205682 The High Court ruled in favor of the Revenue, holding that the provision for bad and doubtful debts cannot be claimed as an expense unless the specific debt is written off in the accounts. The Tribunal's decision to allow the provision was deemed erroneous, emphasizing that only actual bad debts that are specifically written off can be considered admissible deductions under Section 36(1)(vii) of the Income Tax Act, 1961. The judgment clarified the interpretation of the provision, highlighting the requirement for written off bad debts for them to be eligible for deduction. en-us Mon, 28 Mar 2011 00:00:00 +0530 Fri, 16 Sep 2011 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205682 The High Court ruled in favor of the Revenue, holding that the provision for bad and doubtful debts cannot be claimed as an expense unless the specific debt is written off in the accounts. The Tribunal's decision to allow the provision was deemed erroneous, emphasizing that only actual bad debts that are specifically written off can be considered admissible deductions under Section 36(1)(vii) of the Income Tax Act, 1961. The judgment clarified the interpretation of the provision, highlighting the requirement for written off bad debts for them to be eligible for deduction. Case-Laws Income Tax Mon, 28 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205682