https://www.taxtmi.com/caselaws?id=269539 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) decision concerning the writing off of bad debts for the assessment year 2010-11. It held that the debts were genuinely written off due to irrecoverability, not for tax manipulation purposes. The Tribunal emphasized the separate legal status of the companies involved and upheld the decision based on the financial distress of the group concern, Kinetic Motor Co. Ltd., justifying the writing off of bad debts. en-us Wed, 30 Sep 2015 00:00:00 +0530 Tue, 15 Dec 2015 22:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269539 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) decision concerning the writing off of bad debts for the assessment year 2010-11. It held that the debts were genuinely written off due to irrecoverability, not for tax manipulation purposes. The Tribunal emphasized the separate legal status of the companies involved and upheld the decision based on the financial distress of the group concern, Kinetic Motor Co. Ltd., justifying the writing off of bad debts. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269539