https://www.taxtmi.com/caselaws?id=402491 The Revenue's appeal against the deletion of an addition of Rs. 1,67,64,206 made by the Assessing Officer regarding the reversal of bad debts provision for the assessment year 2011-12 was dismissed. The tribunal upheld the first appellate authority's decision, noting the consistent tax-neutral approach of the assessee in previous years. The provision's accounting treatment did not affect taxable income, leading to the conclusion that the reversed provision should not generate taxable income. Therefore, the tribunal affirmed the deletion of the addition, and the appeal was dismissed on 11th December 2020. en-us Fri, 11 Dec 2020 00:00:00 +0530 Mon, 04 Jan 2021 11:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402491 The Revenue's appeal against the deletion of an addition of Rs. 1,67,64,206 made by the Assessing Officer regarding the reversal of bad debts provision for the assessment year 2011-12 was dismissed. The tribunal upheld the first appellate authority's decision, noting the consistent tax-neutral approach of the assessee in previous years. The provision's accounting treatment did not affect taxable income, leading to the conclusion that the reversed provision should not generate taxable income. Therefore, the tribunal affirmed the deletion of the addition, and the appeal was dismissed on 11th December 2020. Case-Laws Income Tax Fri, 11 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402491