https://www.taxtmi.com/caselaws?id=399540 The Tribunal allowed the appeal by the assessee, directing the Assessing Officer to allow the deduction claim of Rs. 88,59,511 on account of bad debts written off. The Tribunal emphasized that post the amendment to Section 36(1)(vii) effective from 1.4.1989, it is sufficient for the assessee to write off the debt as irrecoverable in the accounts, as supported by relevant judicial decisions. The Tribunal distinguished the case from instances of delayed payment and concluded that the assessee was entitled to the deduction claimed. en-us Fri, 09 Oct 2020 00:00:00 +0530 Tue, 13 Oct 2020 15:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399540 The Tribunal allowed the appeal by the assessee, directing the Assessing Officer to allow the deduction claim of Rs. 88,59,511 on account of bad debts written off. The Tribunal emphasized that post the amendment to Section 36(1)(vii) effective from 1.4.1989, it is sufficient for the assessee to write off the debt as irrecoverable in the accounts, as supported by relevant judicial decisions. The Tribunal distinguished the case from instances of delayed payment and concluded that the assessee was entitled to the deduction claimed. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399540