https://www.taxtmi.com/caselaws?id=30504 The High Court upheld the Tribunal's decision to delete the Rs. 31,62,238 addition by the Assessing Officer regarding bad debts deduction under section 36(1)(vii) of the Income-tax Act, 1961. The Court emphasized the importance of complying with the Act's provisions, particularly in writing off bad debts during the relevant previous year. The appeal challenging the Tribunal's decision was dismissed, affirming that the write-off approval by the Reserve Bank of India post the relevant previous year was acceptable for claiming the deduction. en-us Fri, 04 May 2007 00:00:00 +0530 Mon, 01 Sep 2008 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30504 The High Court upheld the Tribunal's decision to delete the Rs. 31,62,238 addition by the Assessing Officer regarding bad debts deduction under section 36(1)(vii) of the Income-tax Act, 1961. The Court emphasized the importance of complying with the Act's provisions, particularly in writing off bad debts during the relevant previous year. The appeal challenging the Tribunal's decision was dismissed, affirming that the write-off approval by the Reserve Bank of India post the relevant previous year was acceptable for claiming the deduction. Case-Laws Income Tax Fri, 04 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30504