https://www.taxtmi.com/caselaws?id=374906 The High Court of Bombay upheld the Tribunal's decision in an income tax appeal case, allowing the claim of bad debts amounting to Rs. 2.61 crores. The Court held that the Assessing Officer could not question the decision to write off the debt as bad debt based on the TRF Ltd Vs. CIT case. The assessee's assessment of irrecoverability justified the write-off, and the Assessing Officer's doubts were deemed insufficient to disallow the claim. The Court found no legal question to address and dismissed the Income Tax Appeal, affirming the assessee's right to write off bad debts without undue interference. en-us Mon, 21 Jan 2019 00:00:00 +0530 Tue, 12 Feb 2019 07:06:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374906 The High Court of Bombay upheld the Tribunal's decision in an income tax appeal case, allowing the claim of bad debts amounting to Rs. 2.61 crores. The Court held that the Assessing Officer could not question the decision to write off the debt as bad debt based on the TRF Ltd Vs. CIT case. The assessee's assessment of irrecoverability justified the write-off, and the Assessing Officer's doubts were deemed insufficient to disallow the claim. The Court found no legal question to address and dismissed the Income Tax Appeal, affirming the assessee's right to write off bad debts without undue interference. Case-Laws Income Tax Mon, 21 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374906