https://www.taxtmi.com/caselaws?id=242624 The ITAT upheld the CIT(A) decision, citing established legal interpretations and precedents set by higher courts, and dismissed the department's appeal regarding the disallowance of bad debts amounting to Rs. 21,11,238. The ITAT emphasized the need for debts to be proven as bad before claiming them as deductions, in line with the provisions of the Income Tax Act. The judgment reaffirmed the importance of adhering to legal criteria for claiming bad debts and highlighted the significance of following precedents set by superior courts in such matters. en-us Wed, 12 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242624 The ITAT upheld the CIT(A) decision, citing established legal interpretations and precedents set by higher courts, and dismissed the department's appeal regarding the disallowance of bad debts amounting to Rs. 21,11,238. The ITAT emphasized the need for debts to be proven as bad before claiming them as deductions, in line with the provisions of the Income Tax Act. The judgment reaffirmed the importance of adhering to legal criteria for claiming bad debts and highlighted the significance of following precedents set by superior courts in such matters. Case-Laws Income Tax Wed, 12 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242624