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.
Bad Debts
Autometers Ltd. Vs. C.I.T. 03/02/2007
[2007] 292 ITR 345 (Delhi)
Case Fact:
Whether, to claim deduction u/s 36(1)(vii) it is required to prove that debt had become bad?
Decision:
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).
CA.Saibaburao Nanduri
Published in Income Tax
Views : 67
Comments
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