https://www.taxtmi.com/caselaws?id=180818 The court allowed the deduction of TDS receivables as bad debts under section 36(1)(vii) despite not arising during the normal course of business. The Assessing Officer's disallowance was overturned, with the CIT (A) and ITAT holding that the inability to claim credit for tax deductions at source constituted a loss incidental to business. The judgment in the case of CIT vs Shreyans Industries supported this decision, emphasizing that the TDS amounts represented a loss incurred in the course of business activities, justifying the allowance of deduction for the written-off TDS receivables. en-us Fri, 28 Jan 2011 00:00:00 +0530 Sat, 02 Apr 2016 10:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180818 The court allowed the deduction of TDS receivables as bad debts under section 36(1)(vii) despite not arising during the normal course of business. The Assessing Officer's disallowance was overturned, with the CIT (A) and ITAT holding that the inability to claim credit for tax deductions at source constituted a loss incidental to business. The judgment in the case of CIT vs Shreyans Industries supported this decision, emphasizing that the TDS amounts represented a loss incurred in the course of business activities, justifying the allowance of deduction for the written-off TDS receivables. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180818