Supreme Court of India
Poonjabhai Varmalidas v. Commissioner of Income Tax, Ahmedabad
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1 Supreme Court bench has cited this judgment.
From the headnote
Income Tax Act, 1922: S. !0(2)(xi)!lncome Tax Act, 1961: "" 36( /)(vii), 36(2) and 41(4): Bad debts written off subsequentlv recovered-Business discontinued-Amounts whether assessable to tax. Section 10(2)(xi) of the Income Tax Act, 1922 provided for deduc tion of bad and doubtful debts. The proviso thereto laid down that if the amount ultimately recovered on any such debt was greater than the difference between the whole debt and the amount allowed the excess shall be deemed to be a profit of the year in which it was recovered. These provisions were re-enacted in the Income Tax, Act, 1961
Where later benches applied it
Of those, 1 referred to
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