https://www.taxtmi.com/caselaws?id=392576 The court ruled in favor of the revenue, emphasizing that deductions under Section 36(1)(viia) of the Income Tax Act require a provision for bad and doubtful debts to be made in the accounts. The tribunal's decision was deemed perverse for disregarding statutory provisions, and the allowance of deduction for interest on zero coupon bonds was found to be erroneous. The court disposed of the appeals accordingly, answering substantial questions of law in favor of the revenue. en-us Fri, 24 Jan 2020 00:00:00 +0530 Mon, 22 Jun 2020 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392576 The court ruled in favor of the revenue, emphasizing that deductions under Section 36(1)(viia) of the Income Tax Act require a provision for bad and doubtful debts to be made in the accounts. The tribunal's decision was deemed perverse for disregarding statutory provisions, and the allowance of deduction for interest on zero coupon bonds was found to be erroneous. The court disposed of the appeals accordingly, answering substantial questions of law in favor of the revenue. Case-Laws Income Tax Fri, 24 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392576