https://www.taxtmi.com/caselaws?id=185499 The Tribunal dismissed the revenue's appeal against the deletion of addition u/s 36(1)(vii) of the Act for bad debts claimed by the assessee in the broking business. The Tribunal held that the amounts claimed as bad debts receivable from customers constituted trading debt, making the assessee eligible for deduction u/s 36(1)(vii) after writing off the debts as irrecoverable. This decision was based on a previous judicial pronouncement, resulting in the revenue's appeal being dismissed. en-us Wed, 13 Oct 2010 00:00:00 +0530 Tue, 16 Aug 2016 15:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185499 The Tribunal dismissed the revenue's appeal against the deletion of addition u/s 36(1)(vii) of the Act for bad debts claimed by the assessee in the broking business. The Tribunal held that the amounts claimed as bad debts receivable from customers constituted trading debt, making the assessee eligible for deduction u/s 36(1)(vii) after writing off the debts as irrecoverable. This decision was based on a previous judicial pronouncement, resulting in the revenue's appeal being dismissed. Case-Laws Income Tax Wed, 13 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185499