https://www.taxtmi.com/caselaws?id=220185 The High Court dismissed the Tax Appeal, affirming the Tribunal's ruling in favor of the assessee regarding the claim of bad debt. The Tribunal correctly applied legal precedents, including the Supreme Court's decision in T.R.F. Ltd., allowing the write-off of the debt as irrecoverable. The Court found that the assessee met the criteria under section 36(1)(vii) of the Act and had the authority to decide the appeal afresh after a recall application. The revenue's contention that the Tribunal could not change its decision was rejected, leading to the dismissal of the appeal. en-us Tue, 06 Nov 2012 00:00:00 +0530 Thu, 10 Jan 2013 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220185 The High Court dismissed the Tax Appeal, affirming the Tribunal's ruling in favor of the assessee regarding the claim of bad debt. The Tribunal correctly applied legal precedents, including the Supreme Court's decision in T.R.F. Ltd., allowing the write-off of the debt as irrecoverable. The Court found that the assessee met the criteria under section 36(1)(vii) of the Act and had the authority to decide the appeal afresh after a recall application. The revenue's contention that the Tribunal could not change its decision was rejected, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 06 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220185