https://www.taxtmi.com/caselaws?id=765227 ITAT Delhi ruled in favor of the assessee regarding disallowance of bad debts claim. The tribunal held that after April 1, 1989, it is not necessary for the assessee to establish that debt has actually become irrecoverable. It is sufficient if the bad debt is written off as irrecoverable in the accounts. The tribunal relied on SC precedent in TRF Ltd case, finding the first appellate authority's upholding of the AO's order unjustified, and allowed the bad debt claim. en-us Fri, 24 Jan 2025 00:00:00 +0530 Tue, 28 Jan 2025 08:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765227 ITAT Delhi ruled in favor of the assessee regarding disallowance of bad debts claim. The tribunal held that after April 1, 1989, it is not necessary for the assessee to establish that debt has actually become irrecoverable. It is sufficient if the bad debt is written off as irrecoverable in the accounts. The tribunal relied on SC precedent in TRF Ltd case, finding the first appellate authority's upholding of the AO's order unjustified, and allowed the bad debt claim. Case-Laws Income Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765227