https://www.taxtmi.com/caselaws?id=55892 The Tribunal upheld the decision of the CIT (A) and dismissed the Revenue's appeal, allowing the bad debt deduction claim of Rs. 1,27,500 for the assessment year 1980-81. The evidence presented, including legal actions and certifications of financial incapability, supported the claim that the debts had become bad during the relevant year. The Tribunal found in favor of the assessee, ruling that the debts were related to the business, had been considered in previous accounting years, and were written off as irrecoverable, thus qualifying for the deduction. en-us Tue, 09 Apr 1985 00:00:00 +0530 Tue, 30 Nov 2010 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55892 The Tribunal upheld the decision of the CIT (A) and dismissed the Revenue's appeal, allowing the bad debt deduction claim of Rs. 1,27,500 for the assessment year 1980-81. The evidence presented, including legal actions and certifications of financial incapability, supported the claim that the debts had become bad during the relevant year. The Tribunal found in favor of the assessee, ruling that the debts were related to the business, had been considered in previous accounting years, and were written off as irrecoverable, thus qualifying for the deduction. Case-Laws Income Tax Tue, 09 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55892