https://www.taxtmi.com/caselaws?id=152704 The Tribunal upheld the deduction for writing off bad debts for the assessee, remanding specific claims for further examination. The claim related to investments was also upheld. In cases of companies under liquidation, the Tribunal agreed with a 90% write-off claim due to the lengthy liquidation process. The High Court found the disallowance of deductions in joint finance cases to be speculative and lacking evidence, remanding the matter for assessment of any recoveries. In non-owner driven cases, the High Court emphasized evidence-based decisions and directed the Assessing Officer to evaluate claims in accordance with the law, allowing the assessee to provide supporting evidence for write-offs. en-us Tue, 16 Dec 2008 00:00:00 +0530 Fri, 21 Nov 2014 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152704 The Tribunal upheld the deduction for writing off bad debts for the assessee, remanding specific claims for further examination. The claim related to investments was also upheld. In cases of companies under liquidation, the Tribunal agreed with a 90% write-off claim due to the lengthy liquidation process. The High Court found the disallowance of deductions in joint finance cases to be speculative and lacking evidence, remanding the matter for assessment of any recoveries. In non-owner driven cases, the High Court emphasized evidence-based decisions and directed the Assessing Officer to evaluate claims in accordance with the law, allowing the assessee to provide supporting evidence for write-offs. Case-Laws Income Tax Tue, 16 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152704