https://www.taxtmi.com/caselaws?id=15574 The High Court ruled in favor of the assessee, allowing the deduction for unrealized rent from M/s De Smet India (P) Ltd. The Court criticized the Tribunal's approach, emphasizing that the institution of legal proceedings does not equate to the termination of legal proceedings, and reasonable efforts must be made to recover rent before claiming deductions. The claim for M/s Dadaji Dhagji & Co. was not pressed by the assessee. The judgment clarified the conditions for claiming deductions for unrealized rent under the IT Act and Rules, highlighting the necessity of genuine recovery efforts. en-us Tue, 10 Nov 1998 00:00:00 +0530 Wed, 26 Aug 2009 11:04:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15574 The High Court ruled in favor of the assessee, allowing the deduction for unrealized rent from M/s De Smet India (P) Ltd. The Court criticized the Tribunal's approach, emphasizing that the institution of legal proceedings does not equate to the termination of legal proceedings, and reasonable efforts must be made to recover rent before claiming deductions. The claim for M/s Dadaji Dhagji & Co. was not pressed by the assessee. The judgment clarified the conditions for claiming deductions for unrealized rent under the IT Act and Rules, highlighting the necessity of genuine recovery efforts. Case-Laws Income Tax Tue, 10 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15574