Court held that the bad debt actually written off as irrecoverable in the accounts of the assessee, on the basis of an authorisation by the board of directors at a meeting held to approve the accounts after the close of the year, could not be disallowed. (AY.1997-98)
Sesa Goa Ltd. v. CIT (NO. 1) (2021)430 ITR 109 (Bom.)(HC)
S. 36(1)(vii) : Bad debt-Written off as irrecoverable in accounts-Allowable as deduction. [S. 36(2)]