https://www.taxtmi.com/caselaws?id=69626 The Tribunal allowed the appeal filed by Thangam Theatre Distributors, granting relief of Rs. 25,906. The debt claimed as a bad debt arising from a film distribution agreement was considered admissible as a bad debt or a trading loss. The Tribunal rejected the argument that the debt had become time-barred, emphasizing the genuine dispute and lack of concrete evidence regarding its irrecoverability. The decision to withdraw the appeal was deemed crucial in determining the timing of the debt becoming bad, leading to the allowance of the full claimed amount. en-us Mon, 09 Mar 1981 00:00:00 +0530 Mon, 11 Apr 2011 11:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69626 The Tribunal allowed the appeal filed by Thangam Theatre Distributors, granting relief of Rs. 25,906. The debt claimed as a bad debt arising from a film distribution agreement was considered admissible as a bad debt or a trading loss. The Tribunal rejected the argument that the debt had become time-barred, emphasizing the genuine dispute and lack of concrete evidence regarding its irrecoverability. The decision to withdraw the appeal was deemed crucial in determining the timing of the debt becoming bad, leading to the allowance of the full claimed amount. Case-Laws Income Tax Mon, 09 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69626