https://www.taxtmi.com/caselaws?id=292402 The HC dismissed the revenue's appeal and upheld the Tribunal's allowance of a deduction under s.36(1)(vii) read with s.36(2) for a debt of Rs. 19,24,09,280 written off as bad in the assessee's return for AY 2001-02. The court held the statutory conditions were satisfied when the debt was written off as bad and irrecoverable and that subsequent recovery attempts or ongoing legal proceedings did not negate the claim. The deduction therefore stood allowed. en-us Wed, 21 Jul 2010 00:00:00 +0530 Tue, 23 Sep 2025 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292402 The HC dismissed the revenue's appeal and upheld the Tribunal's allowance of a deduction under s.36(1)(vii) read with s.36(2) for a debt of Rs. 19,24,09,280 written off as bad in the assessee's return for AY 2001-02. The court held the statutory conditions were satisfied when the debt was written off as bad and irrecoverable and that subsequent recovery attempts or ongoing legal proceedings did not negate the claim. The deduction therefore stood allowed. Case-Laws Income Tax Wed, 21 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292402