https://www.taxtmi.com/caselaws?id=286879 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowance of bad debts written off by the assessee. The Tribunal held that the assessee had appropriately treated the bad debts in its accounts as per the law, citing a Supreme Court decision that it is not necessary to establish irrecoverability but sufficient to write off in the accounts. The Tribunal found the lower authorities erred in disallowing the deduction, emphasizing the importance of reflecting bad debts correctly in accounts and following legal precedents. en-us Fri, 06 Sep 2019 00:00:00 +0530 Thu, 19 Mar 2020 10:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286879 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowance of bad debts written off by the assessee. The Tribunal held that the assessee had appropriately treated the bad debts in its accounts as per the law, citing a Supreme Court decision that it is not necessary to establish irrecoverability but sufficient to write off in the accounts. The Tribunal found the lower authorities erred in disallowing the deduction, emphasizing the importance of reflecting bad debts correctly in accounts and following legal precedents. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286879