https://www.taxtmi.com/caselaws?id=436208 The Tribunal quashed the revisionary order passed under Section 263 of the Income-tax Act, concluding that the Assessing Officer had conducted a proper inquiry and allowed the claim of deduction for bad debt based on substantial evidence. The Tribunal found that the AO's order was not erroneous or prejudicial to the revenue's interest, citing legal precedents. Consequently, the appeal of the assessee was allowed, affirming the rightful claim and allowance of the deduction for bad debt. en-us Mon, 27 Mar 2023 00:00:00 +0530 Fri, 07 Apr 2023 08:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436208 The Tribunal quashed the revisionary order passed under Section 263 of the Income-tax Act, concluding that the Assessing Officer had conducted a proper inquiry and allowed the claim of deduction for bad debt based on substantial evidence. The Tribunal found that the AO's order was not erroneous or prejudicial to the revenue's interest, citing legal precedents. Consequently, the appeal of the assessee was allowed, affirming the rightful claim and allowance of the deduction for bad debt. Case-Laws Income Tax Mon, 27 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436208