Bad debts acquired from predecessor-in-interest: Delhi HC upholds deletion of disallowance on bad debts amounting to Rs 5 crores [Read Order]

Predecessor-in-Interest - Delhi HC - Disallowance - Bad Debts - taxscan

The Delhi High Court upheld the disallowance amounting to Rupees 5 crores on bad debts as they were obtained from predecessor-in-interest. The sole ground on which the impugned order is sought to be assailed is that the deduction qua bad debts acquired by the respondent/assessee, VE Commercial Vehicles Ltd, from its predecessor-in-interest, i.e., Eicher Motors…

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