https://www.taxtmi.com/caselaws?id=120397 The Tribunal allowed the appeal for statistical purposes, concluding that the assessee could claim a deduction for bad debts under section 36(1)(vii) only for brokerage income included in the income computation. The cost of shares, not included in the income computation, could not be claimed as bad debt but might be considered a trading loss subject to other conditions. The case was remanded to the Assessing Officer for re-adjudication, taking into account the segregation of brokerage and cost of shares, and granting the assessee a chance to present their case. en-us Thu, 25 Sep 2008 00:00:00 +0530 Thu, 19 Jul 2012 10:43:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120397 The Tribunal allowed the appeal for statistical purposes, concluding that the assessee could claim a deduction for bad debts under section 36(1)(vii) only for brokerage income included in the income computation. The cost of shares, not included in the income computation, could not be claimed as bad debt but might be considered a trading loss subject to other conditions. The case was remanded to the Assessing Officer for re-adjudication, taking into account the segregation of brokerage and cost of shares, and granting the assessee a chance to present their case. Case-Laws Income Tax Thu, 25 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120397