https://www.taxtmi.com/caselaws?id=182440 Amounts arising from an unlawful or otherwise unenforceable transaction may still enter commercial computation of business profits for income-tax purposes. If such dues are treated as recoverable and later become irrecoverable in the relevant year of account, they may be deducted as bad debts or commercial business losses. The inability to enforce the underlying liability in court does not, by itself, prevent deduction where the loss is established on the facts. On that basis, the disputed amounts were held allowable in the relevant assessment years in computing business profits. en-us Thu, 13 Sep 1962 00:00:00 +0530 Tue, 10 May 2016 16:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182440 Amounts arising from an unlawful or otherwise unenforceable transaction may still enter commercial computation of business profits for income-tax purposes. If such dues are treated as recoverable and later become irrecoverable in the relevant year of account, they may be deducted as bad debts or commercial business losses. The inability to enforce the underlying liability in court does not, by itself, prevent deduction where the loss is established on the facts. On that basis, the disputed amounts were held allowable in the relevant assessment years in computing business profits. Case-Laws Income Tax Thu, 13 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182440