Case Law Details
Case Name : TRF Limited Vs. CIT (Supreme Court)
Related Assessment Year :
Courts :
Supreme Court of India
In the case Supreme Court had to consider whether after the amendment to s. 36 (1) (vii) w.e.f. 1.4.1989, an assessee had to establish, as a matter of fact, that the debt advanced by the assessee had, in fact, become irrecoverable or whether writing off the debt as irrecoverable in the accounts was sufficient. HELD deciding in favour of the assessee:
(i) The position in law is well-settled. After 1.4.1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the assess...
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Sir, can I have the citation of the case TRF Limited vs. CIT (Supreme Court) regarding bad debts?