https://www.taxtmi.com/caselaws?id=233890 The High Court upheld the Tribunal's decision in an appeal under Section 260-A of the Income Tax Act, 1961, affirming that the written off amounts by the assessee company as bad debts should be treated as capital loss, not revenue expenses. The Court emphasized the lack of prior income from these bad debts, supporting the denial of treating them as revenue expenditure. The appeal was dismissed, with the Court ruling no substantial question of law was raised, and the matter concerning interest and dividend income was remanded for further examination by the Assessing Officer. en-us Wed, 10 Apr 2013 00:00:00 +0530 Sat, 04 May 2013 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233890 The High Court upheld the Tribunal's decision in an appeal under Section 260-A of the Income Tax Act, 1961, affirming that the written off amounts by the assessee company as bad debts should be treated as capital loss, not revenue expenses. The Court emphasized the lack of prior income from these bad debts, supporting the denial of treating them as revenue expenditure. The appeal was dismissed, with the Court ruling no substantial question of law was raised, and the matter concerning interest and dividend income was remanded for further examination by the Assessing Officer. Case-Laws Income Tax Wed, 10 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233890