https://www.taxtmi.com/caselaws?id=8153 The allowance of a bad debt under section 10(2)(xi) was sustained because the advances were held to be made in the ordinary course of the assessee's money lending business; the Tribunal's factual finding was supported by accounts, prior receipt of interest, and acceptance of an assignment in part satisfaction. Challenges based on absence of credited interest and accounting form were rejected as insufficient to displace the Tribunal's conclusion. The legal issue turned on the true nature of the transactions-a question of fact properly resolved for the assessee-and the amount was held allowable as a bad debt. en-us Wed, 25 Nov 1970 00:00:00 +0530 Tue, 31 Mar 2009 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8153 The allowance of a bad debt under section 10(2)(xi) was sustained because the advances were held to be made in the ordinary course of the assessee's money lending business; the Tribunal's factual finding was supported by accounts, prior receipt of interest, and acceptance of an assignment in part satisfaction. Challenges based on absence of credited interest and accounting form were rejected as insufficient to displace the Tribunal's conclusion. The legal issue turned on the true nature of the transactions-a question of fact properly resolved for the assessee-and the amount was held allowable as a bad debt. Case-Laws Income Tax Wed, 25 Nov 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8153