https://www.taxtmi.com/caselaws?id=445060 The court upheld the decision of the Income Tax Appellate Tribunal, allowing the respondent/assessee to claim a deduction for bad debts acquired from its predecessor-in-interest, Eicher Motors Ltd., under Sections 36(1)(vii) and 36(2) of the Income Tax Act, 1961. The Commissioner of Income Tax's ruling in favor of the respondent/assessee was affirmed, and the disallowance of bad debts amounting to Rs. 5,96,20,438/- was correctly deleted. The court concluded that no substantial question of law arose, closing the appeal and instructing parties to proceed based on the digitally signed judgment. en-us Fri, 15 Sep 2023 00:00:00 +0530 Sat, 28 Oct 2023 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445060 The court upheld the decision of the Income Tax Appellate Tribunal, allowing the respondent/assessee to claim a deduction for bad debts acquired from its predecessor-in-interest, Eicher Motors Ltd., under Sections 36(1)(vii) and 36(2) of the Income Tax Act, 1961. The Commissioner of Income Tax's ruling in favor of the respondent/assessee was affirmed, and the disallowance of bad debts amounting to Rs. 5,96,20,438/- was correctly deleted. The court concluded that no substantial question of law arose, closing the appeal and instructing parties to proceed based on the digitally signed judgment. Case-Laws Income Tax Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445060