https://www.taxtmi.com/caselaws?id=244941 The High Court dismissed the appeals, finding no substantial question of law. The case involved the disallowance of a bad debts deduction claimed by a Co-operative Bank for AY 2007-08. The court analyzed provisions under Section 36(1)(vii) and Section 36(2) of the Income Tax Act, considered the application of Section 41(4) in bad debts recovery, and evaluated the relevance of RBI directives and one-time settlement scheme. The court's comparison with previous decisions supported its conclusion that the deduction for bad debts should be allowed based on specific circumstances and past treatment of provisions. en-us Tue, 04 Mar 2014 00:00:00 +0530 Sat, 21 Feb 2015 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244941 The High Court dismissed the appeals, finding no substantial question of law. The case involved the disallowance of a bad debts deduction claimed by a Co-operative Bank for AY 2007-08. The court analyzed provisions under Section 36(1)(vii) and Section 36(2) of the Income Tax Act, considered the application of Section 41(4) in bad debts recovery, and evaluated the relevance of RBI directives and one-time settlement scheme. The court's comparison with previous decisions supported its conclusion that the deduction for bad debts should be allowed based on specific circumstances and past treatment of provisions. Case-Laws Income Tax Tue, 04 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244941