Delhi HC allows entire Training Expenses on Skill Development

PCIT Vs VE Commercial Vehicles Ltd (Delhi High Court) Introduction: The Delhi High Court, in the case of PCIT vs VE Commercial Vehicles Ltd for Assessment Year (AY) 2011-12, addressed two key issues. This article delves into the court’s ruling, emphasizing the deduction claimed by the assessee regarding bad debts and training expenses. Detailed Analysis: 1. Bad Debts Issue (Section 36(1)(vii) and 36(2)): The Assessing Officer disallowed bad debts claiming that acquiring them from the predecessor-in-interest violated Section 36(1)(vii) and 36(2) of the Income Tax Act, 1961. The court ref...