https://www.taxtmi.com/caselaws?id=391012 The court dismissed the appeal, upholding the decision of the Income Tax Appellate Tribunal in favor of the Respondent-Assessee regarding the claim of bad debts on loans advanced to the subsidiary company for the assessment year 2008-09. The court relied on legal precedents to establish that the Assessee was not required to prove the debt as irrecoverable post the 1989 amendment to the Income Tax Act, and therefore, the writing off of bad debts sufficed. The court found no substantial question of law and concluded that the issue had been settled by previous judgments. en-us Tue, 07 Jan 2020 00:00:00 +0530 Thu, 16 Jan 2020 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391012 The court dismissed the appeal, upholding the decision of the Income Tax Appellate Tribunal in favor of the Respondent-Assessee regarding the claim of bad debts on loans advanced to the subsidiary company for the assessment year 2008-09. The court relied on legal precedents to establish that the Assessee was not required to prove the debt as irrecoverable post the 1989 amendment to the Income Tax Act, and therefore, the writing off of bad debts sufficed. The court found no substantial question of law and concluded that the issue had been settled by previous judgments. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391012