https://www.taxtmi.com/caselaws?id=217632 The appeal involved two issues. Firstly, the disallowance of a claim of bad debt/business loss amounting to Rs. 22,94,000 was upheld as the payment lacked a business purpose. Secondly, the addition of credits in the current account of a partner was contested, resulting in the deletion of an addition of Rs. 2,50,000 as the burden of proof regarding the source of the money lay with the partner. The tribunal partially allowed the appeal by deleting the addition in the firm's hands, emphasizing the partner's responsibility to explain the source of funds. en-us Thu, 26 Jul 2012 00:00:00 +0530 Sat, 13 Oct 2012 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217632 The appeal involved two issues. Firstly, the disallowance of a claim of bad debt/business loss amounting to Rs. 22,94,000 was upheld as the payment lacked a business purpose. Secondly, the addition of credits in the current account of a partner was contested, resulting in the deletion of an addition of Rs. 2,50,000 as the burden of proof regarding the source of the money lay with the partner. The tribunal partially allowed the appeal by deleting the addition in the firm's hands, emphasizing the partner's responsibility to explain the source of funds. Case-Laws Income Tax Thu, 26 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217632