https://www.taxtmi.com/caselaws?id=190618 Carry forward loss and depreciation of amalgamating companies was held not set off in the assessee's hands, following the Tribunal's earlier view. Work-in-progress written off against opening reserves was treated as revenue in nature because the underlying map development cost had been incurred in the ordinary course of business, so the disallowance was deleted. Bad debts written off were allowed where statutory conditions were met, but non-recoverable advances and earnest money deposits were disallowed for want of adequate proof. Expenditure for the medical devices division remained allowable as business expenditure until sale, and no cessation of liability was found to attract section 41(1). Logo charges and depot service charges were also held allowable as revenue expenditure. en-us Tue, 02 Jul 2013 00:00:00 +0530 Thu, 02 Mar 2017 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190618 Carry forward loss and depreciation of amalgamating companies was held not set off in the assessee's hands, following the Tribunal's earlier view. Work-in-progress written off against opening reserves was treated as revenue in nature because the underlying map development cost had been incurred in the ordinary course of business, so the disallowance was deleted. Bad debts written off were allowed where statutory conditions were met, but non-recoverable advances and earnest money deposits were disallowed for want of adequate proof. Expenditure for the medical devices division remained allowable as business expenditure until sale, and no cessation of liability was found to attract section 41(1). Logo charges and depot service charges were also held allowable as revenue expenditure. Case-Laws Income Tax Tue, 02 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190618