https://www.taxtmi.com/caselaws?id=341986 The Tribunal allowed the assessee's claim for bad debts in the computation of income, citing consistency in accounting practices and absence of double deduction concerns. However, the issue of evidence for taxation of provisions made in earlier years was remitted to the Assessing Officer for verification. The Tribunal emphasized adherence to CBDT Circular 12/2016 and legal requirements for bad debt write-offs under Section 36. The appeal of the Revenue was allowed for statistical purposes, highlighting the importance of complying with accounting principles and tax regulations in such cases. en-us Wed, 12 Apr 2017 00:00:00 +0530 Sat, 22 Apr 2017 06:53:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341986 The Tribunal allowed the assessee's claim for bad debts in the computation of income, citing consistency in accounting practices and absence of double deduction concerns. However, the issue of evidence for taxation of provisions made in earlier years was remitted to the Assessing Officer for verification. The Tribunal emphasized adherence to CBDT Circular 12/2016 and legal requirements for bad debt write-offs under Section 36. The appeal of the Revenue was allowed for statistical purposes, highlighting the importance of complying with accounting principles and tax regulations in such cases. Case-Laws Income Tax Wed, 12 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341986