ITAT Delhi: Section 36(1)(vii) Applicable in Inability or Insolvency Cases - (05 Dec 2019)
DIRECT TAXATION
Income Tax Appellate Tribunal, Delhi has held that an Assessee is entitled to claim under Section 36(1)(vii) of the Income Tax Act where the money is unable to be recovered due to inability or insolvency of the debtor to pay. In all other cases, the claim for allowance should have to be sustained under Section 37(1).
Tags : ITAT DELHI INSOLVENCY
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