https://www.taxtmi.com/acts?id=2978 An adjustment to tax is permitted where a dealer has written off a sale price as bad debt and claimed it as a deduction under section 36 of the Income Tax Act; the adjustment equals the tax on the written-off price provided it is recorded in the dealer's books. When the written-off price relates to sales taxed at different rates, allocation follows a specified hierarchy: interest, exempt sales, then taxable sales in ascending tax-rate order. Subsequent recoveries are treated as deemed sales and allocated in reverse order for tax adjustment. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 20 Aug 2015 11:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2978 An adjustment to tax is permitted where a dealer has written off a sale price as bad debt and claimed it as a deduction under section 36 of the Income Tax Act; the adjustment equals the tax on the written-off price provided it is recorded in the dealer's books. When the written-off price relates to sales taxed at different rates, allocation follows a specified hierarchy: interest, exempt sales, then taxable sales in ascending tax-rate order. Subsequent recoveries are treated as deemed sales and allocated in reverse order for tax adjustment. Act-Rules VAT - Delhi Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2978