https://www.taxtmi.com/caselaws?id=327727 The tribunal upheld the CIT(A)'s decision to allow sundry balances written off by the assessee without submission of bad debts details for Assessment Year 2004-05. The tribunal relied on the Supreme Court decision in TRF Ltd. Vs. CIT, stating that mere writing off of debts in the books is sufficient evidence. The revenue's argument that the debts were not proven to be considered in earlier profits was dismissed, emphasizing that establishing debt irrecoverability post-1989 does not require further evidence if written off. The tribunal emphasized adherence to legal precedents and proper accounting treatment in allowing write-offs as bad debts. en-us Thu, 07 Apr 2016 00:00:00 +0530 Wed, 18 May 2016 08:27:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327727 The tribunal upheld the CIT(A)'s decision to allow sundry balances written off by the assessee without submission of bad debts details for Assessment Year 2004-05. The tribunal relied on the Supreme Court decision in TRF Ltd. Vs. CIT, stating that mere writing off of debts in the books is sufficient evidence. The revenue's argument that the debts were not proven to be considered in earlier profits was dismissed, emphasizing that establishing debt irrecoverability post-1989 does not require further evidence if written off. The tribunal emphasized adherence to legal precedents and proper accounting treatment in allowing write-offs as bad debts. Case-Laws Income Tax Thu, 07 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327727