https://www.taxtmi.com/caselaws?id=291567 An assessee cannot unilaterally choose the year in which a debt is treated as irrecoverable. Under section 24(1) of the Income-tax Act and Rule 37, deduction is available only if the loss or irrecoverability is shown to have been sustained in the relevant year. A mere declaration by the assessee is insufficient; the fact and timing of irrecoverability must be proved by evidence to the satisfaction of the Income-tax Officer. The burden therefore rests on the assessee to establish that the debt became irrecoverable in the particular year for which deduction is claimed. en-us Fri, 09 May 1924 00:00:00 +0530 Tue, 17 Nov 2020 18:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291567 An assessee cannot unilaterally choose the year in which a debt is treated as irrecoverable. Under section 24(1) of the Income-tax Act and Rule 37, deduction is available only if the loss or irrecoverability is shown to have been sustained in the relevant year. A mere declaration by the assessee is insufficient; the fact and timing of irrecoverability must be proved by evidence to the satisfaction of the Income-tax Officer. The burden therefore rests on the assessee to establish that the debt became irrecoverable in the particular year for which deduction is claimed. Case-Laws Income Tax Fri, 09 May 1924 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291567