https://www.taxtmi.com/caselaws?id=189812 The Tribunal ruled in favor of the assessee on all three issues. The bad debt claimed in relation to H.V. Law & Co. Ltd. was allowed as a deduction as it was forgone for valid business reasons. The unrealisable rent was considered a bad debt due to the property sale, meeting the necessary conditions for deduction. Additionally, the law charges were allowed as business expenditure as they were related to property held as stock-in-trade. The Tribunal upheld the Commissioner (Appeals) decisions, rejecting the revenue's arguments and allowing the deductions against business income. en-us Thu, 23 Nov 1995 00:00:00 +0530 Sat, 21 Jan 2017 17:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189812 The Tribunal ruled in favor of the assessee on all three issues. The bad debt claimed in relation to H.V. Law & Co. Ltd. was allowed as a deduction as it was forgone for valid business reasons. The unrealisable rent was considered a bad debt due to the property sale, meeting the necessary conditions for deduction. Additionally, the law charges were allowed as business expenditure as they were related to property held as stock-in-trade. The Tribunal upheld the Commissioner (Appeals) decisions, rejecting the revenue's arguments and allowing the deductions against business income. Case-Laws Income Tax Thu, 23 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189812