https://www.taxtmi.com/caselaws?id=205082 The court allowed the appellant's appeal, permitting the deduction of advances as business expenditures under Section 37 of the Income Tax Act. It held that the debt write-off was justified by genuine business reasons and aligned with principles of business expenditure. Additionally, the court affirmed the permissibility of raising new legal grounds at the appellate stage, citing the appellant's right to relief not being restricted to earlier pleas. en-us Wed, 11 May 2011 00:00:00 +0530 Wed, 12 Dec 2012 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205082 The court allowed the appellant's appeal, permitting the deduction of advances as business expenditures under Section 37 of the Income Tax Act. It held that the debt write-off was justified by genuine business reasons and aligned with principles of business expenditure. Additionally, the court affirmed the permissibility of raising new legal grounds at the appellate stage, citing the appellant's right to relief not being restricted to earlier pleas. Case-Laws Income Tax Wed, 11 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205082