https://www.taxtmi.com/caselaws?id=233698 The case involved a dispute over the disallowance of an amount written off by the assessee as irrecoverable, particularly focusing on advance rent and capital expenditure. The Tribunal upheld relief on advance rent based on the assessee's opinion of recovery chances, following the T.R.F Ltd. case precedent. The High Court affirmed the Tribunal's decision, emphasizing the assessee's right to write off debts based on their assessment of recovery probabilities. The judgment underscored the significance of forming an opinion on debt recovery for claiming deductions under the Income Tax Act, ultimately dismissing the revenue's appeal for lack of substantial legal questions. en-us Fri, 10 May 2013 00:00:00 +0530 Thu, 24 Oct 2013 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233698 The case involved a dispute over the disallowance of an amount written off by the assessee as irrecoverable, particularly focusing on advance rent and capital expenditure. The Tribunal upheld relief on advance rent based on the assessee's opinion of recovery chances, following the T.R.F Ltd. case precedent. The High Court affirmed the Tribunal's decision, emphasizing the assessee's right to write off debts based on their assessment of recovery probabilities. The judgment underscored the significance of forming an opinion on debt recovery for claiming deductions under the Income Tax Act, ultimately dismissing the revenue's appeal for lack of substantial legal questions. Case-Laws Income Tax Fri, 10 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233698