https://www.taxtmi.com/caselaws?id=75607 The High Court ruled in favor of the Revenue regarding bad debts written off, discharge of guarantee obligations, and interest income, disallowing the claims due to lack of evidence or relevance to the assessee's business. However, the court allowed the deduction for legal expenses incurred for business expansion, considering it as revenue expenditure. The appeal was partially allowed, with costs imposed on the respondent for both appeals. en-us Mon, 11 Jan 2010 00:00:00 +0530 Fri, 01 Feb 2013 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75607 The High Court ruled in favor of the Revenue regarding bad debts written off, discharge of guarantee obligations, and interest income, disallowing the claims due to lack of evidence or relevance to the assessee's business. However, the court allowed the deduction for legal expenses incurred for business expansion, considering it as revenue expenditure. The appeal was partially allowed, with costs imposed on the respondent for both appeals. Case-Laws Income Tax Mon, 11 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75607