https://www.taxtmi.com/caselaws?id=260917 The tribunal dismissed the appeal in the case involving the disallowance of bad debts for a company. Despite arguments citing precedent cases, the tribunal found that the conditions for writing off bad debts were not met as per the Income Tax Act. Issues such as the interpretation of "write-off," timing of account write-offs, and compliance with legal requirements were examined. The tribunal emphasized the need for accurate recording and adherence to prescribed procedures for claiming bad debt allowances, leading to the rejection of the appeal. en-us Fri, 13 Feb 2015 00:00:00 +0530 Mon, 02 Mar 2015 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260917 The tribunal dismissed the appeal in the case involving the disallowance of bad debts for a company. Despite arguments citing precedent cases, the tribunal found that the conditions for writing off bad debts were not met as per the Income Tax Act. Issues such as the interpretation of "write-off," timing of account write-offs, and compliance with legal requirements were examined. The tribunal emphasized the need for accurate recording and adherence to prescribed procedures for claiming bad debt allowances, leading to the rejection of the appeal. Case-Laws Income Tax Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260917