https://www.taxtmi.com/caselaws?id=189060 Tribunal findings based on an arithmetical error or material misreading of core evidence may be set aside; corrected arithmetic showed cash withdrawals from a home chest matched recorded introductions, so the addition of Rs. 86,000 as unexplained cash/secreted profits was unsupported and disallowed. Separately, a debt is deductible as a bad debt when recovery has become genuinely hopeless within the accounting year; here prosecution of execution proceedings and absence of evidence that recovery was impossible prior to the year were considered, but the totality of facts led to allowance of Rs. 14,518 as a bad debt in the assessment year. en-us Thu, 30 Apr 1953 00:00:00 +0530 Wed, 03 Oct 2018 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189060 Tribunal findings based on an arithmetical error or material misreading of core evidence may be set aside; corrected arithmetic showed cash withdrawals from a home chest matched recorded introductions, so the addition of Rs. 86,000 as unexplained cash/secreted profits was unsupported and disallowed. Separately, a debt is deductible as a bad debt when recovery has become genuinely hopeless within the accounting year; here prosecution of execution proceedings and absence of evidence that recovery was impossible prior to the year were considered, but the totality of facts led to allowance of Rs. 14,518 as a bad debt in the assessment year. Case-Laws Income Tax Thu, 30 Apr 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189060