https://www.taxtmi.com/caselaws?id=159408 A genuine write-off of bad debts in the assessee's books satisfied Section 10(2)(xi) of the Income-tax Act, 1922. The court treated debts shown as irrecoverable as sufficiently written off where the assessee debited the profit and loss account and made corresponding entries to suspense or doubtful-debts accounts. It was not necessary in every case to close each individual debtor's account by direct credit. The operative requirement was that the books must reflect an actual, bona fide write-off, which was found to have been done. The question was answered in the affirmative in favour of the assessee. en-us Fri, 04 Sep 1953 00:00:00 +0530 Sat, 23 Nov 2013 13:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159408 A genuine write-off of bad debts in the assessee's books satisfied Section 10(2)(xi) of the Income-tax Act, 1922. The court treated debts shown as irrecoverable as sufficiently written off where the assessee debited the profit and loss account and made corresponding entries to suspense or doubtful-debts accounts. It was not necessary in every case to close each individual debtor's account by direct credit. The operative requirement was that the books must reflect an actual, bona fide write-off, which was found to have been done. The question was answered in the affirmative in favour of the assessee. Case-Laws Income Tax Fri, 04 Sep 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159408