https://www.taxtmi.com/caselaws?id=179460 The court upheld the decision to disallow a deduction of Rs. 1,27,856 claimed as bad debt by the assessee firm engaged in money-lending, following financial difficulties faced by a related entity. The Assessing Officer's partial disallowance was deemed correct, with the court allowing a deduction of Rs. 71,007 while denying the remainder. The court emphasized transparency in accounting for loans to related entities and upheld the decisions of lower authorities, concluding the matter without costs. en-us Tue, 24 Apr 2001 00:00:00 +0530 Wed, 02 Mar 2016 14:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179460 The court upheld the decision to disallow a deduction of Rs. 1,27,856 claimed as bad debt by the assessee firm engaged in money-lending, following financial difficulties faced by a related entity. The Assessing Officer's partial disallowance was deemed correct, with the court allowing a deduction of Rs. 71,007 while denying the remainder. The court emphasized transparency in accounting for loans to related entities and upheld the decisions of lower authorities, concluding the matter without costs. Case-Laws Income Tax Tue, 24 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179460