Bombay High Court Dismisses Revenue's Appeal in Share Broker Bad Debt Case — Affirms Deduction Under Section 36(1)(vii) of Income Tax Act. Amounts Advanced for Client Transactions Constitute Business Debts Allowable as Bad Debts Even if Only Commission Was Credited to Profit and Loss Account.
28 Feb 2012The appeal by the Revenue arose from a decision of the Special Bench of the Income Tax Appellate Tribunal dated 16 July 2010. The assessee, Shri Shrey...






