https://www.taxtmi.com/caselaws?id=764645 The Department's challenge was held to be covered by an earlier binding decision on the treatment of bad debts and the effect of the retrospective amendment to Section 115JA of the Income-tax Act, 1961. The Court noted that no fresh substantial question arose on the issue urged by the Revenue, as the point had already been decided against it by precedent. The retrospective amendment and the principles governing write-off of bad debts and deduction were considered, but they did not alter the binding effect of the earlier ruling. The issue was answered against the Revenue and in favour of the assessee. en-us Thu, 12 Dec 2024 00:00:00 +0530 Wed, 15 Jan 2025 07:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764645 The Department's challenge was held to be covered by an earlier binding decision on the treatment of bad debts and the effect of the retrospective amendment to Section 115JA of the Income-tax Act, 1961. The Court noted that no fresh substantial question arose on the issue urged by the Revenue, as the point had already been decided against it by precedent. The retrospective amendment and the principles governing write-off of bad debts and deduction were considered, but they did not alter the binding effect of the earlier ruling. The issue was answered against the Revenue and in favour of the assessee. Case-Laws Income Tax Thu, 12 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764645