https://www.taxtmi.com/caselaws?id=21240 The High Court addressed the validity of writing off bad debts totaling Rs. 8,04,199, emphasizing the lack of evidence provided and upheld the claim for bad debts. Regarding the credit balances of Rs. 1,46,285, the Court found a question of law regarding the treatment of the balance from advances received. The Court clarified that the claim for bad debts without engaging in money-lending business was based on incorrect facts and did not warrant consideration. The High Court directed the Tribunal to refer specific questions of law related to bad debts and balance treatment, partially allowing the reference application without costs. en-us Tue, 19 Nov 1991 00:00:00 +0530 Sat, 21 Nov 2009 10:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21240 The High Court addressed the validity of writing off bad debts totaling Rs. 8,04,199, emphasizing the lack of evidence provided and upheld the claim for bad debts. Regarding the credit balances of Rs. 1,46,285, the Court found a question of law regarding the treatment of the balance from advances received. The Court clarified that the claim for bad debts without engaging in money-lending business was based on incorrect facts and did not warrant consideration. The High Court directed the Tribunal to refer specific questions of law related to bad debts and balance treatment, partially allowing the reference application without costs. Case-Laws Income Tax Tue, 19 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21240