https://www.taxtmi.com/caselaws?id=422596 Provision for bad and doubtful debts remains deductible under section 36(1)(viia) when the statutory ceilings are met and the amount is, in substance, connected with such provision rather than a non-qualifying reserve. On that footing, the Tribunal upheld deletion of the disallowance. Expenditure on centenary celebrations, gift distribution and society relief fund was also treated as wholly and exclusively for business under section 37(1), being linked to business promotion and institutional activities with no personal element. The Tribunal therefore sustained deletion of the business expenditure disallowance and dismissed the Revenue's challenge on both issues. en-us Tue, 17 May 2022 00:00:00 +0530 Fri, 20 May 2022 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422596 Provision for bad and doubtful debts remains deductible under section 36(1)(viia) when the statutory ceilings are met and the amount is, in substance, connected with such provision rather than a non-qualifying reserve. On that footing, the Tribunal upheld deletion of the disallowance. Expenditure on centenary celebrations, gift distribution and society relief fund was also treated as wholly and exclusively for business under section 37(1), being linked to business promotion and institutional activities with no personal element. The Tribunal therefore sustained deletion of the business expenditure disallowance and dismissed the Revenue's challenge on both issues. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422596