https://www.taxtmi.com/caselaws?id=13706 The High Court allowed the bad debt claim of Rs. 1,49,433 for the assessment year 1985-86 by the respondent-assessee. The Court agreed that the debt had become irrecoverable, emphasizing that legal action against the debtor is not a prerequisite for claiming a bad debt. The Court upheld the Tribunal's decision, noting the genuine efforts made by the aged respondent-assessee to recover the loan amount. The Court emphasized that the onus is on the assessee to establish the irrecoverability of the debt, not necessarily through legal action, and found no legal infirmity in allowing the claim, ruling in favor of the assessee against the Revenue. en-us Mon, 23 May 2005 00:00:00 +0530 Thu, 11 Jul 2013 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13706 The High Court allowed the bad debt claim of Rs. 1,49,433 for the assessment year 1985-86 by the respondent-assessee. The Court agreed that the debt had become irrecoverable, emphasizing that legal action against the debtor is not a prerequisite for claiming a bad debt. The Court upheld the Tribunal's decision, noting the genuine efforts made by the aged respondent-assessee to recover the loan amount. The Court emphasized that the onus is on the assessee to establish the irrecoverability of the debt, not necessarily through legal action, and found no legal infirmity in allowing the claim, ruling in favor of the assessee against the Revenue. Case-Laws Income Tax Mon, 23 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13706