https://www.taxtmi.com/caselaws?id=5307 Section 24 of the General Clauses Act, 1897 preserves a write-off made under a repealed income-tax provision where the earlier and later enactments are not inconsistent. On that basis, bad debts written off under section 10(2)(xi) of the Income-tax Act, 1922 were treated as falling within the re-enacted scheme in sections 36(1)(vii), 36(2) and 41(4) of the Income-tax Act, 1961. Recovery of those debts was therefore brought to tax under section 41(4), even though the business had ceased to exist. The result was that subsequent receipts from recovered bad debts were assessable in the hands of the assessee. en-us Tue, 09 Oct 1990 00:00:00 +0530 Mon, 30 May 2016 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5307 Section 24 of the General Clauses Act, 1897 preserves a write-off made under a repealed income-tax provision where the earlier and later enactments are not inconsistent. On that basis, bad debts written off under section 10(2)(xi) of the Income-tax Act, 1922 were treated as falling within the re-enacted scheme in sections 36(1)(vii), 36(2) and 41(4) of the Income-tax Act, 1961. Recovery of those debts was therefore brought to tax under section 41(4), even though the business had ceased to exist. The result was that subsequent receipts from recovered bad debts were assessable in the hands of the assessee. Case-Laws Income Tax Tue, 09 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5307