![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]")
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...
![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 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]")
![Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bad-Debts-Bad-Debts-from-Credit-Card-Business-Business-Loss-ITAT-IndusInd-Bank-taxscan.jpg "Bad Debts from Credit Card Business Deductible as Business Loss: ITAT Grants Relief to IndusInd Bank [Read Order]")
![Relief to Bosch Limited: ITAT deletes Income Tax Addition on reduction of Bad Debts from Sundry Receivables and debited to Profit and Loss account [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Bosch-Limited-ITAT-Income-Tax-Bad-Debts-Sundry-Receivables-Profit-and-Loss-account-taxscan.jpg "Relief to Bosch Limited: ITAT deletes Income Tax Addition on reduction of Bad Debts from Sundry Receivables and debited to Profit and Loss account [Read Order]")
No Proof of Payment from Debtor: Delhi HC upholds Income Tax Deduction of Bad Debts u/s 36(1)(vii) [Read Order]
The division bench of the Delhi High Court has held that there was no proof of payment from the debtor and upholds deduction of bad debts u/s 36(1)(vii). The Assessing Officer during assessment...
![No Proof of Payment from Debtor: Delhi HC upholds Income Tax Deduction of Bad Debts u/s 36(1)(vii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Payment-Debtor-Delhi-HC-Deduction-Bed-Debts-taxscan.jpg "No Proof of Payment from Debtor: Delhi HC upholds Income Tax Deduction of Bad Debts u/s 36(1)(vii) [Read Order]")
Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with Specific Invoices: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the short payment of invoices can be treated as business loss even if the claim is not substantiated with specific invoices. ...
![Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with Specific Invoices: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Short-Payment-Business-Loss-Invoices-ITAT-taxscan.jpeg "Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with Specific Invoices: ITAT [Read Order]")
Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that bad debt formed under the corporate structure scheme reduces sundry receivables and confirms the addition of bad debts written...
![Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/corporate-structure-scheme-sundry-receivables-bad-debts-ITAT-taxscan.jpg "Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]")
![ITAT allows write off of Bad Debts as assessee has successfully discharged its Onus of Proof [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Bad-Debts-Onus-of-Proof-write-off-Taxscan.jpg "ITAT allows write off of Bad Debts as assessee has successfully discharged its Onus of Proof [Read Order]")
Writing off Bad Debts eligible for deduction, but no details regarding exact nature of transactions given: ITAT restores the matter to CIT(A)
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while restoring the matter back to the CIT(A) held that the assessee apart from writing off of bad debts in the books of accounts, the...
No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]
The Ahmedabad bench of ITAT in the case of Dy. Commissioner of Income-Tax vs The Saurashtra Co-op Bank Ltd, held that deduction of accrued interest on bad debts and doubtful debts / NPAs can be...
![No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/01/Bad-Debt-Taxscan.jpg "No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]")
Bad Debts Written Off is deductible if the same has been taken into account in computing the income of the assessee in previous years: Kerala HC [Read Judgment]
In Stockpoint Share Services Private Ltd v. ACIT, Justices Antony Dominic and Dama Seshadri Naidu of Kerala High Court held that in order claim deduction in respect to bad debts under section Section...
![Bad Debts Written Off is deductible if the same has been taken into account in computing the income of the assessee in previous years: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/10/Debt-Taxscan.jpg "Bad Debts Written Off is deductible if the same has been taken into account in computing the income of the assessee in previous years: Kerala HC [Read Judgment]")