https://www.taxtmi.com/caselaws?id=341014 The High Court upheld the Tribunal's decision regarding the deduction of bad debt write-off of advances made to another concern, allowing a deduction of Rs. 41.75 lakhs as a business loss under Section 28 of the Income Tax Act. The remaining amount was considered a gratuitous payment not connected to the appellant's business. In relation to the deduction claimed for site expenses, the High Court agreed with the Tribunal that the provision made for site expenses related to purchases in a subsequent year, leading to the dismissal of the appeal without costs. en-us Mon, 13 Feb 2017 00:00:00 +0530 Fri, 31 Mar 2017 05:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341014 The High Court upheld the Tribunal's decision regarding the deduction of bad debt write-off of advances made to another concern, allowing a deduction of Rs. 41.75 lakhs as a business loss under Section 28 of the Income Tax Act. The remaining amount was considered a gratuitous payment not connected to the appellant's business. In relation to the deduction claimed for site expenses, the High Court agreed with the Tribunal that the provision made for site expenses related to purchases in a subsequent year, leading to the dismissal of the appeal without costs. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341014