Debt Written Off in Books of Account is to be Allowed as Bad Debts: ITAT directs AO to delete Addition of Rs. 6.69 crore [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 6.69 crore...
![ITAT allows Bad Debts claimed u/s 36(1)(vii) in respect of Identified Debts [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Bad-Debts-Identified-Debts-ITAT-allows-Bad-Debts-claimed-itat-delhi-taxscan.jpg "ITAT allows Bad Debts claimed u/s 36(1)(vii) in respect of Identified Debts [Read Order]")
![No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Bad-Debts-taxscan.jpg "No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]")
![Bad Debts arising out of Business of Credit Card Services is part of Banking Activities: ITAT allows deduction claimed by HDFC Bank u/s 36(1)(vii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-HDFC-Bank-Credit-card-services-taxscan.jpg "Bad Debts arising out of Business of Credit Card Services is part of Banking Activities: ITAT allows deduction claimed by HDFC Bank u/s 36(1)(vii) of Income Tax Act [Read Order]")
![Bad debts acquired from predecessor-in-interest: Delhi HC upholds deletion of disallowance on bad debts amounting to Rs 5 crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Predecessor-in-Interest-Delhi-HC-Disallowance-Bad-Debts-taxscan.jpg "Bad debts acquired from predecessor-in-interest: Delhi HC upholds deletion of disallowance on bad debts amounting to Rs 5 crores [Read Order]")
No Disallowance on account of Bad and Doubtful Debts claimed u/s 36(1)(viia) of Income Tax Act with respect to Non-Performing Assets: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that no disallowance could be made on account of bad and doubtful debts claimed under Section 36(1)(viia) of Income Tax Act, 1961 with...
![No Disallowance on account of Bad and Doubtful Debts claimed u/s 36(1)(viia) of Income Tax Act with respect to Non-Performing Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Disallowance-on-account-Disallowance-account-account-of-Bad-and-Doubtful-Debts-Doubtful-Debts-Bad-debt-Income-Tax-Act-Non-Performing-Assets-Assets-ITAT-Taxscan.jpg "No Disallowance on account of Bad and Doubtful Debts claimed u/s 36(1)(viia) of Income Tax Act with respect to Non-Performing Assets: ITAT [Read Order]")
Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench held that bad debts declared as Non-Performing Assets (NPS) before 01.04.2006 are allowed as deduction under Section 36(l)(vii) of Income Tax...
![Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Bad-Debts-NPS-allowable-deduction-Income-Tax-Act-taxscan.jpg "Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]")
![ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-on-account-Bad-Debts-claimed-in-Profit-and-Loss-Account-TAXSCAN.jpg "ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]")
Deduction Allowable on written off Bad Debts since Unpaid Portion of Sale Amount and Bad Debts written off Claimed are Same: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction to bad debts written off since the unpaid portion of sale amount and bad debts written off claims were the same. the...
![Deduction Allowable on written off Bad Debts since Unpaid Portion of Sale Amount and Bad Debts written off Claimed are Same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deduction-Allowable-on-written-off-Bad-Debts-Unpaid-Portion-Unpaid-Portion-of-Sale-Amount-Sale-Amount-Bad-Debts-written-off-ITAT-Income-Tax-taxscan.jpg "Deduction Allowable on written off Bad Debts since Unpaid Portion of Sale Amount and Bad Debts written off Claimed are Same: ITAT [Read Order]")
Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Ahmedabad bench has held that adjustment against bad and doubtful debts amounts to actual writing off of bad debts. Integra Engineering India Ltd., the...
![Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Adjustment-Adjustment-Against-Bad-and-Doubtful-Debts-Doubtful-Debts-Bad-Debts-ITAT-Income-Tax-taxscan.jpg "Adjustment Against Bad and Doubtful Debts Amounts to Actual Writing Off of Bad Debts: ITAT [Read Order]")
Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Baroda's Plea [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that bad debts are allowable as a deduction under section 36(1)(vii) of the Income Tax Act, 1961. M/s. Bank of Baroda, the...
![Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Barodas Plea [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bad-debts-allowable-as-Deduction-Bad-debts-Deduction-Income-Tax-Act-Income-Tax-ITAT-allows-Bank-of-Barodas-Plea-ITAT-Bank-of-Barodas-Plea-Bank-of-Baroda-taxscan.jpg "Bad debts allowable as Deduction u/s 36(1)(vii) of Income Tax Act: ITAT allows Bank of Barodas Plea [Read Order]")