https://www.taxtmi.com/caselaws?id=403867 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 64,80,000 as bad debts from the assessee's income. The decision was based on the assessee's treatment of the disputed amount in their books, supported by legal precedents emphasizing that irrefutable proof of bad debts is not required. The Tribunal noted the disputed amount remained unrecovered and that the matter was sub-judice, aligning with the High Court's interpretation of the relevant tax provisions under Section 36(1)(vii) of the Income Tax Act, 1961. en-us Fri, 29 Jan 2021 00:00:00 +0530 Wed, 10 Feb 2021 09:32:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403867 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 64,80,000 as bad debts from the assessee's income. The decision was based on the assessee's treatment of the disputed amount in their books, supported by legal precedents emphasizing that irrefutable proof of bad debts is not required. The Tribunal noted the disputed amount remained unrecovered and that the matter was sub-judice, aligning with the High Court's interpretation of the relevant tax provisions under Section 36(1)(vii) of the Income Tax Act, 1961. Case-Laws Income Tax Fri, 29 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403867