https://www.taxtmi.com/caselaws?id=467116 Recovered bad debts are taxable under the recovery provision only where a deduction for those debts was previously allowed; where the assessee enjoyed statutory exemption in the earlier year and no deduction was claimed or granted, the statutory condition precedent for taxing recoveries is absent, so the impugned addition is set aside. A further claim arising from an intervening higher-court decision that changes the earlier-year tax status is admissible where facts exist on record; the claim is admitted and remitted to the Assessing Officer for fresh adjudication with opportunity of hearing. en-us Fri, 15 Sep 2017 00:00:00 +0530 Fri, 06 Mar 2026 20:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467116 Recovered bad debts are taxable under the recovery provision only where a deduction for those debts was previously allowed; where the assessee enjoyed statutory exemption in the earlier year and no deduction was claimed or granted, the statutory condition precedent for taxing recoveries is absent, so the impugned addition is set aside. A further claim arising from an intervening higher-court decision that changes the earlier-year tax status is admissible where facts exist on record; the claim is admitted and remitted to the Assessing Officer for fresh adjudication with opportunity of hearing. Case-Laws Income Tax Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467116