https://www.taxtmi.com/caselaws?id=192320 The Tribunal allowed the assessee to claim depreciation on leased vehicles, following the similarity of lease agreements and non-claim of depreciation by lessees. Interest on sticky loans was not recognized until received, in line with RBI guidelines. The provision for doubtful debts was disallowed as not constituting an allowable expense. The Tribunal clarified that writing off bad debts in books is sufficient, remanding for compliance verification. Interest under section 234D was not charged if no refund was granted. The withdrawal of interest under section 244A was subject to refund verification. Interest under sections 234C and 234B was recalculated. Loss on delinquent loan sale was allowed as a trading loss incurred in the ordinary course of business. en-us Mon, 29 Aug 2016 00:00:00 +0530 Thu, 25 May 2017 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192320 The Tribunal allowed the assessee to claim depreciation on leased vehicles, following the similarity of lease agreements and non-claim of depreciation by lessees. Interest on sticky loans was not recognized until received, in line with RBI guidelines. The provision for doubtful debts was disallowed as not constituting an allowable expense. The Tribunal clarified that writing off bad debts in books is sufficient, remanding for compliance verification. Interest under section 234D was not charged if no refund was granted. The withdrawal of interest under section 244A was subject to refund verification. Interest under sections 234C and 234B was recalculated. Loss on delinquent loan sale was allowed as a trading loss incurred in the ordinary course of business. Case-Laws Income Tax Mon, 29 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192320