https://www.taxtmi.com/caselaws?id=62228 A money-lending advance that failed as a bad debt claim was still allowable as a business loss where the surrounding financial circumstances showed recovery had become commercially unrealizable in the relevant year. The assessment of peak credit additions required a comprehensive, chronological examination of the transactions, with genuine credits from known sources accepted and conjectural estimates curtailed. Interest on amounts treated as deposits or deleted on related findings was consequentially not sustained, while any remaining interest issue depended on whether it had already been offered on receipt basis in later years. en-us Mon, 26 Apr 1993 00:00:00 +0530 Tue, 18 Jan 2011 16:44:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62228 A money-lending advance that failed as a bad debt claim was still allowable as a business loss where the surrounding financial circumstances showed recovery had become commercially unrealizable in the relevant year. The assessment of peak credit additions required a comprehensive, chronological examination of the transactions, with genuine credits from known sources accepted and conjectural estimates curtailed. Interest on amounts treated as deposits or deleted on related findings was consequentially not sustained, while any remaining interest issue depended on whether it had already been offered on receipt basis in later years. Case-Laws Income Tax Mon, 26 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62228