https://www.taxtmi.com/caselaws?id=238574 The Tribunal upheld the decision to disallow an unrecovered advance of Rs. 5,89,500 as a bad debt, following the Supreme Court's ruling that it constituted a capital investment rather than a business loss. Despite the appellant's arguments, the Tribunal aligned with the precedent set in Hasimara Industries Ltd. case, categorizing the advance as capital investment and denying its treatment as a revenue loss. The appeal was dismissed, emphasizing the enduring benefit nature of the advance and its ineligibility for deduction as a bad debt. en-us Tue, 29 Jan 2013 00:00:00 +0530 Sat, 26 Oct 2013 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238574 The Tribunal upheld the decision to disallow an unrecovered advance of Rs. 5,89,500 as a bad debt, following the Supreme Court's ruling that it constituted a capital investment rather than a business loss. Despite the appellant's arguments, the Tribunal aligned with the precedent set in Hasimara Industries Ltd. case, categorizing the advance as capital investment and denying its treatment as a revenue loss. The appeal was dismissed, emphasizing the enduring benefit nature of the advance and its ineligibility for deduction as a bad debt. Case-Laws Income Tax Tue, 29 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238574