https://www.taxtmi.com/caselaws?id=388929 The Tribunal dismissed the Revenue's appeal due to low tax effect as per the CBDT Circular. The assessee's Cross Objection regarding the disallowance of bad debts was allowed for statistical purposes, with the issue remanded to the Assessing Officer for verification of the advance amount paid. The Tribunal treated the Cross Objection as an independent appeal and adjudicated it on merits, supporting the assessee's claim that the advance was for trading purposes and not a capital expenditure. en-us Thu, 21 Nov 2019 00:00:00 +0530 Wed, 27 Nov 2019 13:29:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388929 The Tribunal dismissed the Revenue's appeal due to low tax effect as per the CBDT Circular. The assessee's Cross Objection regarding the disallowance of bad debts was allowed for statistical purposes, with the issue remanded to the Assessing Officer for verification of the advance amount paid. The Tribunal treated the Cross Objection as an independent appeal and adjudicated it on merits, supporting the assessee's claim that the advance was for trading purposes and not a capital expenditure. Case-Laws Income Tax Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388929