https://www.taxtmi.com/caselaws?id=462395 ITAT Delhi ruled in favor of the assessee on three issues. First, bad debts claim was allowed under section 36(1)(vii) as debts were written off in accounts, following SC precedent in TRF Limited that actual irrecoverability need not be established post-1989 amendment. Second, lease rent liability was held as current year expense since quantification occurred when assessee approached DDA for leasehold to freehold conversion. Third, capital gains addition under section 45(4) was deleted as increase in existing partners' capital accounts due to asset revaluation upon new partners' admission was not taxable. en-us Tue, 27 Aug 2013 00:00:00 +0530 Thu, 19 Jun 2025 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462395 ITAT Delhi ruled in favor of the assessee on three issues. First, bad debts claim was allowed under section 36(1)(vii) as debts were written off in accounts, following SC precedent in TRF Limited that actual irrecoverability need not be established post-1989 amendment. Second, lease rent liability was held as current year expense since quantification occurred when assessee approached DDA for leasehold to freehold conversion. Third, capital gains addition under section 45(4) was deleted as increase in existing partners' capital accounts due to asset revaluation upon new partners' admission was not taxable. Case-Laws Income Tax Tue, 27 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462395