https://www.taxtmi.com/caselaws?id=258955 The Court allowed the bad debt deduction in the assessment year 1980-81, emphasizing the debt's irrecoverability in that year despite the possibility of claiming it later. The decision, based on Section 36 provisions, aimed to prevent prejudice to the assessee and ensure fair tax treatment, supported by evidence of the debt's bad status in 1980-81. The judgment highlighted the relaxed requirements under Section 36 for bad debt deductions and the evolving approach towards such claims, ultimately favoring the assessee's position in the case. en-us Tue, 07 Apr 2015 00:00:00 +0530 Thu, 23 Apr 2015 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258955 The Court allowed the bad debt deduction in the assessment year 1980-81, emphasizing the debt's irrecoverability in that year despite the possibility of claiming it later. The decision, based on Section 36 provisions, aimed to prevent prejudice to the assessee and ensure fair tax treatment, supported by evidence of the debt's bad status in 1980-81. The judgment highlighted the relaxed requirements under Section 36 for bad debt deductions and the evolving approach towards such claims, ultimately favoring the assessee's position in the case. Case-Laws Income Tax Tue, 07 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258955