https://www.taxtmi.com/caselaws?id=16374 The Tribunal found in favor of the assessee on all issues, including the interest of directors in the concerns, classification of debts as trade debts, burden of proof on the Commissioner, nature of the debt, avoidance of Section 295 of the Companies Act, relationship of directors with debtors, writing off bad debts, genuineness of the debt write-off, basis of the Commissioner's allegations, erroneous assessment order, validity of the Commissioner's order u/s 263, and the allowability of bad debts u/s 36(1)(vii) read with Section 36(2) of the Income-tax Act, 1961. The Tribunal upheld the assessee's position, and the bad debts were deemed allowable as a deduction. en-us Thu, 17 Dec 1998 00:00:00 +0530 Mon, 07 Sep 2009 13:11:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16374 The Tribunal found in favor of the assessee on all issues, including the interest of directors in the concerns, classification of debts as trade debts, burden of proof on the Commissioner, nature of the debt, avoidance of Section 295 of the Companies Act, relationship of directors with debtors, writing off bad debts, genuineness of the debt write-off, basis of the Commissioner's allegations, erroneous assessment order, validity of the Commissioner's order u/s 263, and the allowability of bad debts u/s 36(1)(vii) read with Section 36(2) of the Income-tax Act, 1961. The Tribunal upheld the assessee's position, and the bad debts were deemed allowable as a deduction. Case-Laws Income Tax Thu, 17 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16374