Deduction towards Provision for bad debts - Addition u/s ...

ITAT rules taxpayer can't claim bad debt deduction without actual write-off u/s 36(1)(vii) of Income Tax Act.

June 13, 2023

Case Laws Income Tax AT

Deduction towards Provision for bad debts - Addition u/s 36(1)(vii) - The ITAT found that the assessee had made a provision for bad debts but had not actually written them off in their books. Therefore, they did not meet the conditions required to claim a deduction for bad debts under Section 36(1)(vii) of the Act.- AT

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Deduction towards Provision for bad debts - Addition u/s ...

ITAT rules taxpayer can't claim bad debt deduction without actual write-off u/s 36(1)(vii) of Income Tax Act.

June 13, 2023

Case Laws Income Tax AT

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