https://www.taxtmi.com/caselaws?id=13465 The High Court of Delhi ruled in favor of the assessee in a case concerning the treatment of provisions for bad and doubtful debts in the profit and loss account for the assessment year 1997-98 under section 115JA of the Income-tax Act, 1961. The court held that the provision for bad and doubtful debts constituted an ascertained liability and should not be included in the book profits of the assessee. The court referenced previous decisions and concluded that the provision met the criteria outlined in the Act, ultimately dismissing the Revenue's appeal as it found no substantial question of law to be addressed. en-us Fri, 18 May 2007 00:00:00 +0530 Fri, 29 May 2009 11:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13465 The High Court of Delhi ruled in favor of the assessee in a case concerning the treatment of provisions for bad and doubtful debts in the profit and loss account for the assessment year 1997-98 under section 115JA of the Income-tax Act, 1961. The court held that the provision for bad and doubtful debts constituted an ascertained liability and should not be included in the book profits of the assessee. The court referenced previous decisions and concluded that the provision met the criteria outlined in the Act, ultimately dismissing the Revenue's appeal as it found no substantial question of law to be addressed. Case-Laws Income Tax Fri, 18 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13465