https://www.taxtmi.com/caselaws?id=11781 A bad debt deduction is available when the assessee has made an actual write-off and, on an objective commercial assessment, recovery is no longer reasonably likely; the record showing the debtor mills had become sick, lost electricity supply, and vested in the State supported the bona fide write-off. The resulting deduction was therefore allowed. For electricity duty, the section 43B disallowance could not stand where the retrospective first proviso granted relief if the duty was paid within the prescribed time; the deletion of the addition was upheld. The reference was thus answered in favour of the assessee on both issues. en-us Wed, 29 Jan 2003 00:00:00 +0530 Fri, 26 Dec 2025 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11781 A bad debt deduction is available when the assessee has made an actual write-off and, on an objective commercial assessment, recovery is no longer reasonably likely; the record showing the debtor mills had become sick, lost electricity supply, and vested in the State supported the bona fide write-off. The resulting deduction was therefore allowed. For electricity duty, the section 43B disallowance could not stand where the retrospective first proviso granted relief if the duty was paid within the prescribed time; the deletion of the addition was upheld. The reference was thus answered in favour of the assessee on both issues. Case-Laws Income Tax Wed, 29 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11781