https://www.taxtmi.com/caselaws?id=386302 The Tribunal affirmed the CIT(A)'s decision, allowing the deduction of Rs. 5,69,78,892/- as bad debts written off by the Assessee Company. The Tribunal held that the Assessee's financing activities, including money lending, were part of its normal business operations, making the write-off of loans permissible under the Income Tax Act. The decision emphasized that the loans were advanced in the ordinary course of business, fulfilling the conditions for deduction under Section 36(2), and dismissed the Revenue's appeal. en-us Mon, 16 Sep 2019 00:00:00 +0530 Thu, 26 Sep 2019 06:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386302 The Tribunal affirmed the CIT(A)'s decision, allowing the deduction of Rs. 5,69,78,892/- as bad debts written off by the Assessee Company. The Tribunal held that the Assessee's financing activities, including money lending, were part of its normal business operations, making the write-off of loans permissible under the Income Tax Act. The decision emphasized that the loans were advanced in the ordinary course of business, fulfilling the conditions for deduction under Section 36(2), and dismissed the Revenue's appeal. Case-Laws Income Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386302