Relief to Thomas Press: ITAT deletes Disallowance of Rs.1.23 Cr in Bad Debts due to Double Taxation [Read Order]

The tribunal observed that the disallowed amount was adjusted against the provision for doubtful debts and was not claimed separately in the Profit and Loss Account

By Sneha Sukumaran Mullakkal - On March 14, 2025 6:55 am - 2 mins read

ITAT Deletes Disallowance - Bad debt - Double taxation - taxscan

The Delhi Bench of Income Tax Appellate Tribunal(ITAT)granted relief to Thomas Press India Pvt.Ltd by deleting the disallowance of Rs. 1.23 crore in bad debts, noting that the adjustment against the provision for doubtful debts had already been accounted for, and any further disallowance would lead to double taxation. Thomson Press India Ltd,appellant-assessee, engaged in…

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