BAD DEBTS

Court :
HC

Brief :
Held by the Hon`ble Court that, it is not necessary to establish that debt had become bad only to write it off as irrecoverable in its accounts is enough to claim deduction u/s 36(1)(vii).

Citation :
Autometers Ltd. Vs. C.I.T.

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4999

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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