https://www.taxtmi.com/caselaws?id=347015 The High Court upheld the Tribunal's decisions on both issues. Regarding the bad debts claim, the Tribunal found the bank's write-off procedure sufficient under the Income Tax Act, emphasizing that recording bad debts as irrecoverable in the accounts is acceptable. On the excess provision issue, the Tribunal ruled that since the provision was never claimed as a deduction, section 41(1) did not apply, resulting in the dismissal of the Tax Appeal. en-us Tue, 22 Aug 2017 00:00:00 +0530 Sat, 26 Aug 2017 09:06:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347015 The High Court upheld the Tribunal's decisions on both issues. Regarding the bad debts claim, the Tribunal found the bank's write-off procedure sufficient under the Income Tax Act, emphasizing that recording bad debts as irrecoverable in the accounts is acceptable. On the excess provision issue, the Tribunal ruled that since the provision was never claimed as a deduction, section 41(1) did not apply, resulting in the dismissal of the Tax Appeal. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347015