https://www.taxtmi.com/caselaws?id=34342 The Court held that the disallowance of bad debts for the assessment year 1990-91 was not justified. The interpretation of section 36(1)(vii) of the Income-tax Act before and after the amendment by the Direct Tax Laws (Amendment) Act, 1987, supported the assessee's position that bad debts, if written off as irrecoverable in the previous year, were eligible for deduction. The matter was referred to the Patna Bench of the Income-tax Tribunal for further action. en-us Wed, 30 Jul 2008 00:00:00 +0530 Wed, 19 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34342 The Court held that the disallowance of bad debts for the assessment year 1990-91 was not justified. The interpretation of section 36(1)(vii) of the Income-tax Act before and after the amendment by the Direct Tax Laws (Amendment) Act, 1987, supported the assessee's position that bad debts, if written off as irrecoverable in the previous year, were eligible for deduction. The matter was referred to the Patna Bench of the Income-tax Tribunal for further action. Case-Laws Income Tax Wed, 30 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34342