https://www.taxtmi.com/caselaws?id=287836 The ITAT ruled in favor of the assessee, allowing the appeal and holding that the claim of bad and doubtful debts under section 36(1)(vii) of the Income Tax Act was permissible in this case. The ITAT found that the provisions of section 36(1)(vii) allowed for the deduction of bad and doubtful debts, as clarified by previous judgments of the Hon'ble Supreme Court and the Hon'ble Karnataka High Court. Therefore, the ITAT concluded that the claim made by the assessee should be allowed, overturning the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals). en-us Fri, 19 Sep 2014 00:00:00 +0530 Wed, 06 May 2020 06:01:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287836 The ITAT ruled in favor of the assessee, allowing the appeal and holding that the claim of bad and doubtful debts under section 36(1)(vii) of the Income Tax Act was permissible in this case. The ITAT found that the provisions of section 36(1)(vii) allowed for the deduction of bad and doubtful debts, as clarified by previous judgments of the Hon'ble Supreme Court and the Hon'ble Karnataka High Court. Therefore, the ITAT concluded that the claim made by the assessee should be allowed, overturning the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 19 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287836