https://www.taxtmi.com/caselaws?id=362911 The appeal was filed against the disallowance of depreciation and provision for bad debts under section 11 of the Income Tax Act. The ITAT allowed the appeal, stating that the legal position changed post April 1, 2015, and as the appeal was for A.Y. 2010-11, the issues were covered in favor of the assessee. The provision for bad debts was allowed based on commercial principles. The issue of loss on the sale of capital assets was not pressed due to significant accumulated losses. The appeal was partly allowed by the ITAT. en-us Mon, 02 Jul 2018 00:00:00 +0530 Wed, 04 Jul 2018 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362911 The appeal was filed against the disallowance of depreciation and provision for bad debts under section 11 of the Income Tax Act. The ITAT allowed the appeal, stating that the legal position changed post April 1, 2015, and as the appeal was for A.Y. 2010-11, the issues were covered in favor of the assessee. The provision for bad debts was allowed based on commercial principles. The issue of loss on the sale of capital assets was not pressed due to significant accumulated losses. The appeal was partly allowed by the ITAT. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362911