In Shreyas S. Morakhia the Special Bench has answered the question whether a share broker is entitled to deduction of bad debts u/s 36(1)(vii) r.w.s. 36(2) in favour of the assessee.
The judgement is available here.
See Also Bonanza Portfolio 320 ITR 178 (Del) & DB (India) Securities 187 Taxman 161 (Del) where the same view has been taken by the Delhi High Court.
