Supreme Court · 1990 INSC 311 · Decided 9 October 1990
Poonjabhai Varmalidas v. Commissioner of Income Tax, Ahmedabad
- Court
- Supreme Court of India
- Citation
- 1990 INSC 311 · [1990] SUPP. 2 S.C.R. 206
- Case number
- CIVIL APPEAL No. 1431/1976
- Decided
- 9 October 1990
- Bench
- T.K. THOMMEN, R.M. SAHAI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(2)(xi)
Headnote
POONJABHAI VARMALIDAS v. COMMISSIONER OF INCOME TAX, AHMEDABAD OCTOBER 9. 1990. [T.K. THOMMEN AND R.M. SAHA!. JJ.] 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 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 as s. 36(l)(vii) provides, subject to the provisions of
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