Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
ITAT sets aside PCIT’s Section 263 Order, Holds Bank of Maharashtra’s ₹1137 Crore Deduction for Bad and Doubtful Debts
Income TaxOther Legal Matters
The ITAT set aside the PCIT's order, upholding Bank of Maharashtra's deduction for bad and doubtful debts. This decision reinforces the importance of allowing legitimate business deductions as per established accounting principles. It highlights the need for a balanced approach in tax assessments.
