https://www.taxtmi.com/caselaws?id=757794 Deduction for irrecoverable bad debts is examined in relation to the independence of the bad-debt write-off provision and the provision for bad and doubtful debts, together with the first proviso and the requirement that section 36(2) be satisfied where the related provision applies. The discussion also notes that entitlement may depend on whether a provision for bad debts existed in the relevant assessment year. On the facts stated, the High Court held that the assessee was entitled to the deduction for the year in issue because no such provision existed then, and the legal question was answered in the assessee's favour; the Special Leave Petition was later dismissed for delay. en-us Fri, 23 Aug 2024 00:00:00 +0530 Fri, 01 May 2026 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757794 Deduction for irrecoverable bad debts is examined in relation to the independence of the bad-debt write-off provision and the provision for bad and doubtful debts, together with the first proviso and the requirement that section 36(2) be satisfied where the related provision applies. The discussion also notes that entitlement may depend on whether a provision for bad debts existed in the relevant assessment year. On the facts stated, the High Court held that the assessee was entitled to the deduction for the year in issue because no such provision existed then, and the legal question was answered in the assessee's favour; the Special Leave Petition was later dismissed for delay. Case-Laws Income Tax Fri, 23 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757794