https://www.taxtmi.com/caselaws?id=464035 ITAT allowed the appeal and reversed the disallowance of bad-debt claims under s.36(1)(vii) read with s.36(2). The tribunal held the assessee's letter asserting it held no securities on clients' behalf was sufficient to rebut the AO's concern about adjustment from sale proceeds; the CIT(A) had not identified what further evidence could have been produced. Accordingly the addition was set aside and ground No.2 was allowed. en-us Fri, 08 Oct 2021 00:00:00 +0530 Sat, 27 Sep 2025 19:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464035 ITAT allowed the appeal and reversed the disallowance of bad-debt claims under s.36(1)(vii) read with s.36(2). The tribunal held the assessee's letter asserting it held no securities on clients' behalf was sufficient to rebut the AO's concern about adjustment from sale proceeds; the CIT(A) had not identified what further evidence could have been produced. Accordingly the addition was set aside and ground No.2 was allowed. Case-Laws Income Tax Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464035