https://www.taxtmi.com/caselaws?id=65494 The Tribunal partly allowed the assessee's appeal. It overturned the disallowance of the bad debt claim of Rs. 1,70,70,000 and the addition of Rs. 3,41,400 as interest accrued on the loan, citing compliance with amended s. 36(2) and the improbability of principal recovery, respectively. However, it upheld the disallowance of Rs. 1,50,000 out of total court fees, agreeing with lower authorities that the expenditure was inadmissible as business expenditure. The Tribunal also deleted the disallowance of Rs. 3,31,408 as expenses attributable to dividend income, noting the lack of established nexus under s. 14A. en-us Fri, 14 Sep 2007 00:00:00 +0530 Mon, 05 Feb 2024 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65494 The Tribunal partly allowed the assessee's appeal. It overturned the disallowance of the bad debt claim of Rs. 1,70,70,000 and the addition of Rs. 3,41,400 as interest accrued on the loan, citing compliance with amended s. 36(2) and the improbability of principal recovery, respectively. However, it upheld the disallowance of Rs. 1,50,000 out of total court fees, agreeing with lower authorities that the expenditure was inadmissible as business expenditure. The Tribunal also deleted the disallowance of Rs. 3,31,408 as expenses attributable to dividend income, noting the lack of established nexus under s. 14A. Case-Laws Income Tax Fri, 14 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65494