https://www.taxtmi.com/caselaws?id=179294 The High Court of Delhi ruled in an appeal regarding the writing off of a bad debt by the assessee under u/s 36(1)(vii) of the Income-tax Act, 1961. The Court held that in the absence of evidence to the contrary, a debt written off as irrecoverable should be presumed as a bad debt. It referenced Circular No. 551 issued by the Central Board of Direct Taxes to support the legislative intent behind u/s 36(1)(vii). The Court found no substantial question of law and dismissed the appeal by the revenue. en-us Wed, 10 Jan 2007 00:00:00 +0530 Thu, 25 Feb 2016 14:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179294 The High Court of Delhi ruled in an appeal regarding the writing off of a bad debt by the assessee under u/s 36(1)(vii) of the Income-tax Act, 1961. The Court held that in the absence of evidence to the contrary, a debt written off as irrecoverable should be presumed as a bad debt. It referenced Circular No. 551 issued by the Central Board of Direct Taxes to support the legislative intent behind u/s 36(1)(vii). The Court found no substantial question of law and dismissed the appeal by the revenue. Case-Laws Income Tax Wed, 10 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179294