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Interest on doubtful debts credited to suspense account by banks need not be included in taxable income.

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Full Text of the Document

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....ated 6th October 1952 wherein it was clarified that interest on doubtful debts credited to a suspense account by banks need not be included in the taxable income provided the ITO is satisfied that the recovery of the loan is practically improbable. 2. The Board, vide its letter F.No.207/16/71-ITA.II dated 29th November 1972 informed the commissioner, Delhi-I that interest on doubtful debts cred....

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