https://www.taxtmi.com/caselaws?id=65990 The tribunal allowed the appeal, ruling in favor of the taxpayer by permitting the reimbursement claim against the Food Corporation of India. The tribunal considered the unrecoverable amount as a bad debt or loss incidental to business, allowing its deduction under the Income-tax Act despite the absence of specific provisions. The decision emphasized that the claim had been included in previous income calculations, and legal principles supported the deduction based on commercial expediency and ordinary principles of commercial accounting. en-us Mon, 30 Jul 1984 00:00:00 +0530 Sat, 19 Feb 2011 16:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65990 The tribunal allowed the appeal, ruling in favor of the taxpayer by permitting the reimbursement claim against the Food Corporation of India. The tribunal considered the unrecoverable amount as a bad debt or loss incidental to business, allowing its deduction under the Income-tax Act despite the absence of specific provisions. The decision emphasized that the claim had been included in previous income calculations, and legal principles supported the deduction based on commercial expediency and ordinary principles of commercial accounting. Case-Laws Income Tax Mon, 30 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65990