https://www.taxtmi.com/caselaws?id=278997 The Tribunal ruled in favor of the Revenue, disallowing the deduction claimed by the assessee for bad debts. The judgment emphasized the necessity of following recognized accounting practices and meeting legal requirements for claiming deductions, stating that the debt must be incurred in the ordinary course of business and reflected in the computation of income to qualify as a bad debt for deduction purposes. en-us Fri, 05 Jun 2015 00:00:00 +0530 Thu, 28 Feb 2019 06:57:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278997 The Tribunal ruled in favor of the Revenue, disallowing the deduction claimed by the assessee for bad debts. The judgment emphasized the necessity of following recognized accounting practices and meeting legal requirements for claiming deductions, stating that the debt must be incurred in the ordinary course of business and reflected in the computation of income to qualify as a bad debt for deduction purposes. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278997