https://www.taxtmi.com/caselaws?id=764991 ITAT Mumbai dismissed Revenue's appeals regarding bad debt write-off claims. The assessee had entered contracts with NSEL before its suspension by EOW. When NSEL trading stopped, the assessee couldn't recover amounts and wrote off the debts, evidenced by ledger accounts. ITAT held the write-off was genuine, following SC precedent in TRF Ltd case accepted by Board Circular 12/2016. The tribunal found no grounds to interfere with CIT(A)'s favorable findings for the assessee. en-us Mon, 20 Jan 2025 00:00:00 +0530 Wed, 22 Jan 2025 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764991 ITAT Mumbai dismissed Revenue's appeals regarding bad debt write-off claims. The assessee had entered contracts with NSEL before its suspension by EOW. When NSEL trading stopped, the assessee couldn't recover amounts and wrote off the debts, evidenced by ledger accounts. ITAT held the write-off was genuine, following SC precedent in TRF Ltd case accepted by Board Circular 12/2016. The tribunal found no grounds to interfere with CIT(A)'s favorable findings for the assessee. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764991