https://www.taxtmi.com/caselaws?id=13092 The High Court of Calcutta determined that the irrecoverable debt claimed as a bad debt by the assessee, related to interest on a loan, should be treated as a revenue loss and not a capital loss. The court emphasized that the character of the loan did not change merely due to its assignment for full and final settlement. The court ruled in favor of the assessee, criticizing the Tribunal's decision to categorize the unrecovered interest as a capital loss. en-us Tue, 07 Aug 2001 00:00:00 +0530 Fri, 24 Apr 2015 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13092 The High Court of Calcutta determined that the irrecoverable debt claimed as a bad debt by the assessee, related to interest on a loan, should be treated as a revenue loss and not a capital loss. The court emphasized that the character of the loan did not change merely due to its assignment for full and final settlement. The court ruled in favor of the assessee, criticizing the Tribunal's decision to categorize the unrecovered interest as a capital loss. Case-Laws Income Tax Tue, 07 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13092