Assessing Officer can examine the entries in respect of writing off of bad debt or part thereof by assessee

RELEVANT PARAGRAPH The intention of legislature is clear that once in assessment year in question debt or part thereof has been written off, as irrecoverable qua the same deductions are to be accorded as per provision of section 36(1)(vii) of the Act, subject to the provisions of 36(2) of the Act. Prior to amendment in the aforementioned section w.e.f. 1.4.1989 the words ‘ any bad debt, or part thereof, which is established to have become, a bad debt in the previous year’ were used and after the amendment w.e.f. 1.4.1989, same has been substituted by “any bad debt or part the...