https://www.taxtmi.com/caselaws?id=420093 The Tribunal allowed the deduction claimed under Section 36(1)(vii) for non-rural bad debts, disagreeing with the AO and CIT(A). It held that bad debts do not need adjustment against provisions under Section 36(1)(viia). Additionally, the Tribunal ruled in favor of the assessee regarding depreciation on ATMs, disallowance of CENVAT credit on capital goods, and disallowance under Section 40(a)(ia). Various issues were remanded back for further examination in line with relevant legal principles and precedents, ensuring a fair adjudication process. en-us Tue, 15 Mar 2022 00:00:00 +0530 Thu, 24 Mar 2022 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420093 The Tribunal allowed the deduction claimed under Section 36(1)(vii) for non-rural bad debts, disagreeing with the AO and CIT(A). It held that bad debts do not need adjustment against provisions under Section 36(1)(viia). Additionally, the Tribunal ruled in favor of the assessee regarding depreciation on ATMs, disallowance of CENVAT credit on capital goods, and disallowance under Section 40(a)(ia). Various issues were remanded back for further examination in line with relevant legal principles and precedents, ensuring a fair adjudication process. Case-Laws Income Tax Tue, 15 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420093