https://www.taxtmi.com/caselaws?id=337239 Separate books maintained for company law compliance and income-tax computation were permissible, and a provision shown in corporate accounts did not defeat a bad debt claim under section 36(1)(vii) where the tax computation reflected a genuine write-off. The court also found that debiting the profit and loss account and crediting the individual debtor accounts amounted to an actual write-off, satisfying the statutory requirement. On that basis, the document states that a mere provision for doubtful debts is insufficient, but an actual write-off supports deduction. en-us Fri, 23 Dec 2016 00:00:00 +0530 Thu, 05 Jan 2017 09:13:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337239 Separate books maintained for company law compliance and income-tax computation were permissible, and a provision shown in corporate accounts did not defeat a bad debt claim under section 36(1)(vii) where the tax computation reflected a genuine write-off. The court also found that debiting the profit and loss account and crediting the individual debtor accounts amounted to an actual write-off, satisfying the statutory requirement. On that basis, the document states that a mere provision for doubtful debts is insufficient, but an actual write-off supports deduction. Case-Laws Income Tax Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337239