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of <h1>Uncollectible Contract Revenue Taxed Under ICDS Can't Be Written Off; Deduction Possible u/s 36(1)(vii) Proviso.</h1> When contract revenue is not recorded in the books of account but is taxed under ICDS, and subsequently becomes uncollectible, it cannot be written off in the books. ICDS cannot be used to claim a deduction for such bad debts. However, a deduction is possible under the second proviso to section 36(1)(vii) of the Income Tax Act, provided the debt was considered in the income computation for the relevant or earlier year when it became irrecoverable.
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