https://www.taxtmi.com/caselaws?id=30555 The High Court upheld the Tribunal's decision allowing the deduction claimed by the assessee for bad debts written off for the assessment year 2003-2004 under Section 36(1)(vii) of the Income Tax Act, 1961. The Court found the Assessing Officer's disallowance of a portion of the claimed amount unconvincing and held that the assessee was not required to prove the debt had become bad in the relevant year, but only needed to show it was written off as irrecoverable in its books. The appeal was dismissed as no substantial question of law arose for consideration. en-us Mon, 25 Aug 2008 00:00:00 +0530 Wed, 03 Sep 2008 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30555 The High Court upheld the Tribunal's decision allowing the deduction claimed by the assessee for bad debts written off for the assessment year 2003-2004 under Section 36(1)(vii) of the Income Tax Act, 1961. The Court found the Assessing Officer's disallowance of a portion of the claimed amount unconvincing and held that the assessee was not required to prove the debt had become bad in the relevant year, but only needed to show it was written off as irrecoverable in its books. The appeal was dismissed as no substantial question of law arose for consideration. Case-Laws Income Tax Mon, 25 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30555