https://www.taxtmi.com/caselaws?id=351546 The Tribunal directed the Assessing Officer (AO) to allow the deduction for bad debts under Section 36(1)(vii) if the provision was reduced from debtors' accounts and debited to the profit and loss account. The Tribunal also instructed the AO to verify the methodology for deduction under Section 36(1)(viii) and to allow it if compliant with accepted methods. Additionally, the Tribunal upheld the deduction for amortization of premium on HTM securities and restricted disallowances under Section 14A. It allowed depreciation on leased assets, write-off of miscellaneous items, and clarified the applicability of Section 115JB to banking companies. en-us Fri, 15 Sep 2017 00:00:00 +0530 Mon, 27 Nov 2017 09:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351546 The Tribunal directed the Assessing Officer (AO) to allow the deduction for bad debts under Section 36(1)(vii) if the provision was reduced from debtors' accounts and debited to the profit and loss account. The Tribunal also instructed the AO to verify the methodology for deduction under Section 36(1)(viii) and to allow it if compliant with accepted methods. Additionally, the Tribunal upheld the deduction for amortization of premium on HTM securities and restricted disallowances under Section 14A. It allowed depreciation on leased assets, write-off of miscellaneous items, and clarified the applicability of Section 115JB to banking companies. Case-Laws Income Tax Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351546