https://www.taxtmi.com/caselaws?id=421558 The Tribunal upheld the CIT(A)'s decision, allowing the bad debt claim of Rs. 1,50,00,000/- under section 36(1)(vii) of the Income Tax Act. The Tribunal found that the assessee fulfilled the conditions under section 36(2)(i) as the debt was properly accounted for and included in the income. The Revenue's appeal was dismissed, affirming the CIT(A)'s ruling and emphasizing that the debt need not be proven irrecoverable post-amendment. en-us Mon, 25 Apr 2022 00:00:00 +0530 Tue, 26 Apr 2022 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421558 The Tribunal upheld the CIT(A)'s decision, allowing the bad debt claim of Rs. 1,50,00,000/- under section 36(1)(vii) of the Income Tax Act. The Tribunal found that the assessee fulfilled the conditions under section 36(2)(i) as the debt was properly accounted for and included in the income. The Revenue's appeal was dismissed, affirming the CIT(A)'s ruling and emphasizing that the debt need not be proven irrecoverable post-amendment. Case-Laws Income Tax Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421558