https://www.taxtmi.com/caselaws?id=763052 ITAT Hyderabad allowed the assessee's appeal regarding bad debt deduction under section 36(1)(vii) read with section 36(2). The tribunal held that provisions for doubtful debts expressly excluded from section 36(1)(vii) cannot claim deduction under section 37(1). Distinguishing the SC decision in Khyati Realtors case, the tribunal applied TRF precedent and ruled the assessee eligible for bad debt deduction upon satisfying statutory conditions. The CIT(A)'s order was set aside, directing the AO to delete additions made towards bad debts written off. en-us Wed, 27 Nov 2024 00:00:00 +0530 Wed, 11 Dec 2024 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763052 ITAT Hyderabad allowed the assessee's appeal regarding bad debt deduction under section 36(1)(vii) read with section 36(2). The tribunal held that provisions for doubtful debts expressly excluded from section 36(1)(vii) cannot claim deduction under section 37(1). Distinguishing the SC decision in Khyati Realtors case, the tribunal applied TRF precedent and ruled the assessee eligible for bad debt deduction upon satisfying statutory conditions. The CIT(A)'s order was set aside, directing the AO to delete additions made towards bad debts written off. Case-Laws Income Tax Wed, 27 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763052