https://www.taxtmi.com/caselaws?id=166481 Recoverability of a debt, including one owed by a company still carrying on business, is a question of fact to be determined on the evidence in each case. No rule of law requires the company to be wound up or to have ceased as a going concern before the debt can be treated as bad. The existence of an ongoing company does not, by itself, prevent a creditor from establishing that the debt has in fact become irrecoverable. en-us Fri, 22 Jun 1934 00:00:00 +0530 Sun, 28 Sep 2014 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166481 Recoverability of a debt, including one owed by a company still carrying on business, is a question of fact to be determined on the evidence in each case. No rule of law requires the company to be wound up or to have ceased as a going concern before the debt can be treated as bad. The existence of an ongoing company does not, by itself, prevent a creditor from establishing that the debt has in fact become irrecoverable. Case-Laws Income Tax Fri, 22 Jun 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166481