https://www.taxtmi.com/caselaws?id=35674 The High Court of Punjab and Haryana addressed the interpretation of provisions under the Income Tax Act, 1961 regarding deduction for bad debts. The Court found that while two small debt items were allowed as bad debt deductions due to the presumption of irrecoverability, a larger debt item required the assessee to establish irrecoverability in the relevant year, not solely based on write-off. The case was remanded for a fresh decision considering all relevant facts as the Tribunal did not fully consider the requirement to establish bad debts for deductions under section 36(1)(vii) of the Income Tax Act. Judge J. V. Gupta concurred with the decision. en-us Wed, 19 Aug 1981 00:00:00 +0530 Tue, 16 Mar 2010 10:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35674 The High Court of Punjab and Haryana addressed the interpretation of provisions under the Income Tax Act, 1961 regarding deduction for bad debts. The Court found that while two small debt items were allowed as bad debt deductions due to the presumption of irrecoverability, a larger debt item required the assessee to establish irrecoverability in the relevant year, not solely based on write-off. The case was remanded for a fresh decision considering all relevant facts as the Tribunal did not fully consider the requirement to establish bad debts for deductions under section 36(1)(vii) of the Income Tax Act. Judge J. V. Gupta concurred with the decision. Case-Laws Income Tax Wed, 19 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35674