https://www.taxtmi.com/caselaws?id=63442 The Tribunal upheld the decision of the CIT (Appeals) to disallow a deduction claimed as a bad debt of Rs. 2,50,000 by an assessee, a Private Limited Company providing consultancy services in Marine Engineering. The Tribunal ruled that since the company was not regularly engaged in money-lending activities, the deduction claim under section 36(2)(i)(a) of the Income-tax Act was not applicable, despite arguments made by the appellant regarding the nature of the transaction with M/s. EMSU Breweries. The Tribunal emphasized the requirement for systematic money-lending activities for such deductions, ultimately denying the claim. en-us Wed, 29 Apr 1992 00:00:00 +0530 Mon, 31 Jan 2011 10:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63442 The Tribunal upheld the decision of the CIT (Appeals) to disallow a deduction claimed as a bad debt of Rs. 2,50,000 by an assessee, a Private Limited Company providing consultancy services in Marine Engineering. The Tribunal ruled that since the company was not regularly engaged in money-lending activities, the deduction claim under section 36(2)(i)(a) of the Income-tax Act was not applicable, despite arguments made by the appellant regarding the nature of the transaction with M/s. EMSU Breweries. The Tribunal emphasized the requirement for systematic money-lending activities for such deductions, ultimately denying the claim. Case-Laws Income Tax Wed, 29 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63442