Dismissing the appeal of the revenue the Court held that the debt was written off as irrevocable in accounts of assessee. Accordingly the Tribunal was justified in allowing claim of assessee towards bad debt on account of TDS payments on behalf its promoters. (AY. 2003-04)
CIT v. Shaw Wallace Distilleries Ltd. (2021) 277 Taxman 145 (Karn.)(HC)
S. 36(1)(vii) : Bad debt-TDS payment-Sales promoters-Order of Tribunal allowing the claim as bad debt is affirmed. [S. 260A]