https://www.taxtmi.com/caselaws?id=404081 The ITAT dismissed both appeals filed by the revenue, upholding the CIT(A)'s decisions to allow the bad debt claims related to bill discounting and inter-corporate deposits. The ITAT found that the assessee had satisfied the conditions under Section 36(2)(i) by offering the relevant incomes as business income in preceding years, and the claims were consistent with the assessee's business activities as outlined in its Memorandum of Association. en-us Mon, 01 Feb 2021 00:00:00 +0530 Mon, 15 Feb 2021 13:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404081 The ITAT dismissed both appeals filed by the revenue, upholding the CIT(A)'s decisions to allow the bad debt claims related to bill discounting and inter-corporate deposits. The ITAT found that the assessee had satisfied the conditions under Section 36(2)(i) by offering the relevant incomes as business income in preceding years, and the claims were consistent with the assessee's business activities as outlined in its Memorandum of Association. Case-Laws Income Tax Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404081