https://www.taxtmi.com/caselaws?id=795803 Bad-debt deduction is available under section 36(1)(vii) read with section 36(2) where a debt is written off as irrecoverable and statutory conditions are met. In share-broking business, client receivables, including amounts paid by the broker to settle clients' exchange obligations, may constitute debts if the related brokerage has been included in income. Regular write-offs of residual client balances may reflect the business pattern where clients settle agreed sums and unrecovered amounts are written off. Continuing client dealings or subsequent receipts do not by themselves negate the deduction where that pattern is established. en-us Fri, 05 Jun 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795803 Bad-debt deduction is available under section 36(1)(vii) read with section 36(2) where a debt is written off as irrecoverable and statutory conditions are met. In share-broking business, client receivables, including amounts paid by the broker to settle clients' exchange obligations, may constitute debts if the related brokerage has been included in income. Regular write-offs of residual client balances may reflect the business pattern where clients settle agreed sums and unrecovered amounts are written off. Continuing client dealings or subsequent receipts do not by themselves negate the deduction where that pattern is established. Case-Laws Income Tax Fri, 05 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795803