Allowability of bad debts under section 36(1)(vii)

ACIT Vs Ashima Dye cot Pvt. Ltd. (ITAT Ahmedabad)– After the amendment of section 36(1)(vii) of the Income-tax Act, 1961, with effect from April 1, 1989, in order to obtain a deduction in relation to bad debts, it is not necessary for the assessee to establish that the debt, in fact, has be

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