https://www.taxtmi.com/caselaws?id=6915 Whether advances totalling the specified sum qualified as a deductible bad debt under section 10(2)(xi) turned on factual findings that the amounts were money lending advances of the assessee's predecessor and that the assessee had succeeded to and continued that business; the Tribunal relied on a registered instrument, account statements and litigation history to find the debt became irrecoverable in the relevant previous year. Those findings were held to be supported by the record and not vitiated for lack of evidence or law, resulting in allowance of the amount as a bad debt for the assessee. en-us Thu, 17 Feb 1966 00:00:00 +0530 Sat, 07 Feb 2009 08:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6915 Whether advances totalling the specified sum qualified as a deductible bad debt under section 10(2)(xi) turned on factual findings that the amounts were money lending advances of the assessee's predecessor and that the assessee had succeeded to and continued that business; the Tribunal relied on a registered instrument, account statements and litigation history to find the debt became irrecoverable in the relevant previous year. Those findings were held to be supported by the record and not vitiated for lack of evidence or law, resulting in allowance of the amount as a bad debt for the assessee. Case-Laws Income Tax Thu, 17 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6915