https://www.taxtmi.com/caselaws?id=778633 ITAT held for the assessee: write-off of bad debts in the books suffices for deduction under s.36(1)(vii), following higher-court precedents. Revenue's challenge to undisclosed income quantification was dismissed as the AO found no infirmity. Disallowances of interest were deleted: interest relating to a land advance was allowed as business expenditure; interest on loans advanced to related parties was held allowable under s.36(1)(iii) given commercial purpose and consistent prior treatment; a lower-rate loan to a related trust likewise did not merit disallowance; alleged shortfall in accrued interest was rejected. en-us Fri, 12 Sep 2025 00:00:00 +0530 Fri, 19 Sep 2025 08:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778633 ITAT held for the assessee: write-off of bad debts in the books suffices for deduction under s.36(1)(vii), following higher-court precedents. Revenue's challenge to undisclosed income quantification was dismissed as the AO found no infirmity. Disallowances of interest were deleted: interest relating to a land advance was allowed as business expenditure; interest on loans advanced to related parties was held allowable under s.36(1)(iii) given commercial purpose and consistent prior treatment; a lower-rate loan to a related trust likewise did not merit disallowance; alleged shortfall in accrued interest was rejected. Case-Laws Income Tax Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778633