https://www.taxtmi.com/caselaws?id=13377 The court dismissed the appeal, concluding that the appellant failed to meet statutory requirements for claiming a bad debt deduction under section 36 of the Income-tax Act, 1961. The appellant's inability to write off debts in the books of account and provide evidence of irrecoverability for the relevant assessment year led to the disallowance of the deduction. The court rejected arguments regarding the impact of the Income-tax Department's seizure of books, emphasizing that compliance with statutory conditions is mandatory. The Tribunal's affirmation of these findings rendered the appeal untenable, resulting in the denial of the deduction claim. en-us Mon, 11 Sep 2006 00:00:00 +0530 Thu, 22 Feb 2024 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13377 The court dismissed the appeal, concluding that the appellant failed to meet statutory requirements for claiming a bad debt deduction under section 36 of the Income-tax Act, 1961. The appellant's inability to write off debts in the books of account and provide evidence of irrecoverability for the relevant assessment year led to the disallowance of the deduction. The court rejected arguments regarding the impact of the Income-tax Department's seizure of books, emphasizing that compliance with statutory conditions is mandatory. The Tribunal's affirmation of these findings rendered the appeal untenable, resulting in the denial of the deduction claim. Case-Laws Income Tax Mon, 11 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13377