https://www.taxtmi.com/caselaws?id=403364 The Tribunal upheld the Principal Commissioner of Income Tax's order, finding the Assessing Officer's assessment erroneous and prejudicial to revenue due to inadequate enquiry and failure to apply relevant provisions. The appeal was dismissed, affirming the direction to disallow the claimed deduction of Rs. 17,03,22,962 under "loss on OTS account" as it did not exceed the credit balance in the provision for bad and doubtful debts account. en-us Fri, 22 Jan 2021 00:00:00 +0530 Wed, 27 Jan 2021 14:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403364 The Tribunal upheld the Principal Commissioner of Income Tax's order, finding the Assessing Officer's assessment erroneous and prejudicial to revenue due to inadequate enquiry and failure to apply relevant provisions. The appeal was dismissed, affirming the direction to disallow the claimed deduction of Rs. 17,03,22,962 under "loss on OTS account" as it did not exceed the credit balance in the provision for bad and doubtful debts account. Case-Laws Income Tax Fri, 22 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403364