https://www.taxtmi.com/caselaws?id=179065 A bad debt deduction requires proof of both a genuine debt and its irrecoverability in the relevant year. On the facts, items 1 to 4 were found not to be genuine debts, and items 5 to 9, though genuine, were not shown to have become irrecoverable in the year of account. The assessee could not shift to an inconsistent claim that the same amounts were business losses or losses incidental to business, because that alternative case was not established on the record. The disputed amounts were therefore not deductible as bad debts or as business losses under section 10(2)(xv). en-us Wed, 01 Aug 1956 00:00:00 +0530 Fri, 19 Feb 2016 12:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179065 A bad debt deduction requires proof of both a genuine debt and its irrecoverability in the relevant year. On the facts, items 1 to 4 were found not to be genuine debts, and items 5 to 9, though genuine, were not shown to have become irrecoverable in the year of account. The assessee could not shift to an inconsistent claim that the same amounts were business losses or losses incidental to business, because that alternative case was not established on the record. The disputed amounts were therefore not deductible as bad debts or as business losses under section 10(2)(xv). Case-Laws Income Tax Wed, 01 Aug 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179065