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2012 (10) TMI 815 - ITAT, DELHIDisallowance of Bad debts - Held that:- No infirmity in the order of CIT(A) in allowing the claim as after the assessment of section 36(1)(vii) w.e.f. 01.04.1989, in order to obtain a deduction in relation to bad debts, it is not necessary for the assessee to establish that the debt, in fact has become irrecoverable. It is enough of the bad debt is written off as irrecoverable in the accounts of the assessee as decided in TRF Ltd. vs CIT [2010 (2) TMI 211 - SUPREME COURT]. Bad debt should be allowed in the year of write off - in favour of assessee.
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