https://www.taxtmi.com/caselaws?id=429349 The court upheld the Income Tax Appellate Tribunal's decision disallowing the claim for protection under Section 41 of the Income Tax Act for the appellant for Assessment Years 2004-05 and 2005-06. The court ruled that the bad debts recovered by the appellant, previously written off by the amalgamating company, should be taxed in the appellant's hands. It emphasized that Section 41 should be considered a complete Code by itself and dismissed the appeals, affirming the Tribunal's order without costs. en-us Mon, 26 Sep 2022 00:00:00 +0530 Fri, 21 Oct 2022 22:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429349 The court upheld the Income Tax Appellate Tribunal's decision disallowing the claim for protection under Section 41 of the Income Tax Act for the appellant for Assessment Years 2004-05 and 2005-06. The court ruled that the bad debts recovered by the appellant, previously written off by the amalgamating company, should be taxed in the appellant's hands. It emphasized that Section 41 should be considered a complete Code by itself and dismissed the appeals, affirming the Tribunal's order without costs. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429349