https://www.taxtmi.com/caselaws?id=278099 The High Court upheld the Tribunal's decision in favor of the assessee, ruling that the deduction for bad debts written off and the taxability of interest on government securities under the mercantile system of accounting were both in line with the provisions of the Income Tax Act. The court noted that the bad debts claimed were not those for which deduction had already been claimed and that interest on government securities could be added to income under the mercantile system of accounting. en-us Tue, 25 Nov 2014 00:00:00 +0530 Wed, 09 Jan 2019 06:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278099 The High Court upheld the Tribunal's decision in favor of the assessee, ruling that the deduction for bad debts written off and the taxability of interest on government securities under the mercantile system of accounting were both in line with the provisions of the Income Tax Act. The court noted that the bad debts claimed were not those for which deduction had already been claimed and that interest on government securities could be added to income under the mercantile system of accounting. Case-Laws Income Tax Tue, 25 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278099