https://www.taxtmi.com/caselaws?id=186478 Deferred sales tax liability under the Karnataka incentive scheme was treated as a deemed loan and, where the scheme deemed payment on fulfilment of its conditions, it was not disallowable under section 43B; the assessee's claim succeeded. For bad debts, the Tribunal applied the settled post-1 April 1989 position that a write-off in the accounts as irrecoverable is sufficient for deduction under section 36(1)(vii), without proving actual irrecoverability in that year; the deduction was allowed. The Revenue's challenge to both additions therefore failed and the appellate order was sustained. en-us Wed, 30 Jun 2010 00:00:00 +0530 Tue, 20 Sep 2016 10:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186478 Deferred sales tax liability under the Karnataka incentive scheme was treated as a deemed loan and, where the scheme deemed payment on fulfilment of its conditions, it was not disallowable under section 43B; the assessee's claim succeeded. For bad debts, the Tribunal applied the settled post-1 April 1989 position that a write-off in the accounts as irrecoverable is sufficient for deduction under section 36(1)(vii), without proving actual irrecoverability in that year; the deduction was allowed. The Revenue's challenge to both additions therefore failed and the appellate order was sustained. Case-Laws Income Tax Wed, 30 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186478