https://www.taxtmi.com/caselaws?id=238969 The Appellate Tribunal ITAT Mumbai partly allowed the Revenue's appeal regarding the assessment year 2007-2008. The tribunal upheld the allowance of bad debts written off as a business loss under section 37(1) of the Income Tax Act, dismissing the Revenue's challenge on the issue. Additionally, the tribunal set aside certain issues for further examination by the Assessing Officer, including the nature of the debts and the applicability of TDS provisions on certain expenses. en-us Wed, 21 Nov 2012 00:00:00 +0530 Fri, 01 Nov 2013 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238969 The Appellate Tribunal ITAT Mumbai partly allowed the Revenue's appeal regarding the assessment year 2007-2008. The tribunal upheld the allowance of bad debts written off as a business loss under section 37(1) of the Income Tax Act, dismissing the Revenue's challenge on the issue. Additionally, the tribunal set aside certain issues for further examination by the Assessing Officer, including the nature of the debts and the applicability of TDS provisions on certain expenses. Case-Laws Income Tax Wed, 21 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238969