22 February 2011

[2011] 9 taxmann.com 252 (Mum. - ITAT) : Bad debts

 [2011] 9 taxmann.com 252 (Mum. - ITAT)

Income-tax : Section 36(1)(vii) - Bad debts - It is not requirement of law that assessee has to establish that debts which were written off as bad debts have in fact become bad

 

    l  Prior to 1-4-1989, every assessee had to establish, as a matter of fact, that the debt advanced by the assessee had, in fact, become irrecoverable, but that position got altered by deletion of the word "established", which earlier existed in section 36(1)(vii)

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