https://www.taxtmi.com/caselaws?id=434489 The Tribunal upheld the Pr.CIT's order invoking Section 263 of the Income Tax Act, 1961, finding the write-back of provisions for bad and doubtful debts should be taxed. The Tribunal held that the Pr.CIT followed due process, providing adequate opportunities for the assessee to present their case. The Tribunal also clarified that Explanation-2 to Section 263 did not need to be explicitly mentioned in the show-cause notice. Consequently, the appeal by the assessee was dismissed. en-us Wed, 15 Feb 2023 00:00:00 +0530 Sat, 25 Feb 2023 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434489 The Tribunal upheld the Pr.CIT's order invoking Section 263 of the Income Tax Act, 1961, finding the write-back of provisions for bad and doubtful debts should be taxed. The Tribunal held that the Pr.CIT followed due process, providing adequate opportunities for the assessee to present their case. The Tribunal also clarified that Explanation-2 to Section 263 did not need to be explicitly mentioned in the show-cause notice. Consequently, the appeal by the assessee was dismissed. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434489