https://www.taxtmi.com/caselaws?id=214444 The High Court held that the sum of Rs. 5.34 crore advanced to M/s BWTL by the consultancy service provider could not be treated as bad debt and written off as expenses under Section 36(1)(vii) of the Income Tax Act. The Court found that the advance was not part of the normal course of the assessee's consultancy business and lacked evidence to support it as a business transaction. The High Court set aside the Tribunal's decision and reinstated the assessing officer's order, emphasizing that the consultancy service provider was not engaged in money lending activities. en-us Wed, 13 Jun 2012 00:00:00 +0530 Sat, 30 Jun 2012 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214444 The High Court held that the sum of Rs. 5.34 crore advanced to M/s BWTL by the consultancy service provider could not be treated as bad debt and written off as expenses under Section 36(1)(vii) of the Income Tax Act. The Court found that the advance was not part of the normal course of the assessee's consultancy business and lacked evidence to support it as a business transaction. The High Court set aside the Tribunal's decision and reinstated the assessing officer's order, emphasizing that the consultancy service provider was not engaged in money lending activities. Case-Laws Income Tax Wed, 13 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214444