Case Law Details
Case Name : Ambey Laboratories Limited Vs ACIT (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Delhi
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Ambey Laboratories Limited Vs ACIT (ITAT Delhi)
Assessee wrote off dues from a Thai customer due to quality disputes. AO & CIT(A) disallowed the claim citing lack of evidence of recovery efforts & write-off.
Tribunal observed that Sec 36(1 )(vii) provides that any bad debt written off in the books of account as irrecoverable is an allowable deduction. It has been settled by the Apex Court in TRF Ltd. v. CIT [2010] 323 ITR 397 that writing off of debt in the books of
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