https://www.taxtmi.com/caselaws?id=386206 Hire-purchase income was recognised on the consistently followed EMI/ESM basis, as the tax method regularly employed by the assessee prevailed despite a change in book accounting; the claim was allowed. Provision for non-performing assets and broken period interest required fresh verification of the amounts and the true character of the securities, so both matters were remanded. Recoveries from bad debts written off by amalgamating companies were taxable as business receipts in the hands of the amalgamated company and the addition was sustained. Business origination cost was allowed as revenue expenditure, capital loss claims on mutual fund transactions were accepted on the facts, and the bad debt write-off disallowance was deleted. en-us Wed, 04 Sep 2019 00:00:00 +0530 Tue, 24 Sep 2019 07:46:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386206 Hire-purchase income was recognised on the consistently followed EMI/ESM basis, as the tax method regularly employed by the assessee prevailed despite a change in book accounting; the claim was allowed. Provision for non-performing assets and broken period interest required fresh verification of the amounts and the true character of the securities, so both matters were remanded. Recoveries from bad debts written off by amalgamating companies were taxable as business receipts in the hands of the amalgamated company and the addition was sustained. Business origination cost was allowed as revenue expenditure, capital loss claims on mutual fund transactions were accepted on the facts, and the bad debt write-off disallowance was deleted. Case-Laws Income Tax Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386206