https://www.taxtmi.com/caselaws?id=249423 The Tribunal allowed the appeal of the assessee for the assessment year 2007-2008, granting the deduction of bad debts/business loss claimed amounting to Rs. 2,38,287 and the interest of Rs. 6000. The Tribunal found the bad debt claim genuine based on the Apex Court decision in the TRF Ltd. case and accepted that the interest disallowance was unsustainable as the advances were normal business transactions not subject to interest charges. en-us Fri, 06 Jun 2014 00:00:00 +0530 Mon, 14 Jul 2014 09:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249423 The Tribunal allowed the appeal of the assessee for the assessment year 2007-2008, granting the deduction of bad debts/business loss claimed amounting to Rs. 2,38,287 and the interest of Rs. 6000. The Tribunal found the bad debt claim genuine based on the Apex Court decision in the TRF Ltd. case and accepted that the interest disallowance was unsustainable as the advances were normal business transactions not subject to interest charges. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249423