https://www.taxtmi.com/caselaws?id=467118 The note addresses entitlement to bad-debt deduction where inter-company amounts recorded as reimbursable costs were written off in the assessee's books with board approval; it clarifies that such book write-offs, supported by contemporaneous corporate records and uncontradicted by the tax authorities, suffice as evidence of irrecoverability and justify deletion of assessed additions. The operative effect: additions based on mere surmise or conjecture cannot be sustained and the write-off qualifies for deduction absent contrary proof. en-us Mon, 06 Jun 2022 00:00:00 +0530 Fri, 06 Mar 2026 20:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467118 The note addresses entitlement to bad-debt deduction where inter-company amounts recorded as reimbursable costs were written off in the assessee's books with board approval; it clarifies that such book write-offs, supported by contemporaneous corporate records and uncontradicted by the tax authorities, suffice as evidence of irrecoverability and justify deletion of assessed additions. The operative effect: additions based on mere surmise or conjecture cannot be sustained and the write-off qualifies for deduction absent contrary proof. Case-Laws Income Tax Mon, 06 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467118