https://www.taxtmi.com/caselaws?id=9757 The Division Bench allowed the deduction of 'Reserve for bad and doubtful debts' while computing income, based on compliance with statutory provisions and precedents. The court emphasized the need for writing off bad debts as irrecoverable, noting that the transfer to the reserve account constituted writing off. The judgment highlighted the acceptance of the provision by relevant authorities and directed detailed scrutiny of the provision, ultimately ruling in favor of the appellant. en-us Tue, 26 Jul 2005 00:00:00 +0530 Mon, 13 Jun 2011 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9757 The Division Bench allowed the deduction of 'Reserve for bad and doubtful debts' while computing income, based on compliance with statutory provisions and precedents. The court emphasized the need for writing off bad debts as irrecoverable, noting that the transfer to the reserve account constituted writing off. The judgment highlighted the acceptance of the provision by relevant authorities and directed detailed scrutiny of the provision, ultimately ruling in favor of the appellant. Case-Laws Income Tax Tue, 26 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9757