https://www.taxtmi.com/caselaws?id=302494 The Tribunal directed the Assessing Officer to treat the entire amount of Rs.1,02,00,000/- as a business loss and grant deduction for bad debts written off, provided the debt is reflected in the books of accounts. Additionally, the Tribunal instructed the Assessing Officer to allow the entire compensation payment of Rs.65,00,000/- as a deductible expense under section 37 of the Act. The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow the bad debt claim related to advances made to M/s. Soprano Holdings Pvt. Ltd. The Tribunal also directed the Assessing Officer to permit the claim for additional depreciation on second-hand windmills. en-us Tue, 25 Oct 2016 00:00:00 +0530 Tue, 31 May 2022 06:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302494 The Tribunal directed the Assessing Officer to treat the entire amount of Rs.1,02,00,000/- as a business loss and grant deduction for bad debts written off, provided the debt is reflected in the books of accounts. Additionally, the Tribunal instructed the Assessing Officer to allow the entire compensation payment of Rs.65,00,000/- as a deductible expense under section 37 of the Act. The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow the bad debt claim related to advances made to M/s. Soprano Holdings Pvt. Ltd. The Tribunal also directed the Assessing Officer to permit the claim for additional depreciation on second-hand windmills. Case-Laws Income Tax Tue, 25 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302494