https://www.taxtmi.com/caselaws?id=21672 The High Court upheld the Tribunal's decision in a tax case involving deductions claimed by a non-resident company. The claim for bad debt deduction was disallowed as the debt was not proven to be irrecoverable during the relevant year. Additionally, the claim for business loss deduction was rejected, as it was deemed a capital loss related to the sale of the business. However, the claim for revenue loss on the sale of current assets was allowed, with the High Court emphasizing that Tribunal findings should not be disturbed unless lacking evidence or legal misdirection. en-us Thu, 09 Jan 1992 00:00:00 +0530 Thu, 26 Nov 2009 16:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21672 The High Court upheld the Tribunal's decision in a tax case involving deductions claimed by a non-resident company. The claim for bad debt deduction was disallowed as the debt was not proven to be irrecoverable during the relevant year. Additionally, the claim for business loss deduction was rejected, as it was deemed a capital loss related to the sale of the business. However, the claim for revenue loss on the sale of current assets was allowed, with the High Court emphasizing that Tribunal findings should not be disturbed unless lacking evidence or legal misdirection. Case-Laws Income Tax Thu, 09 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21672