https://www.taxtmi.com/caselaws?id=286744 The Tribunal allowed the appellant's appeal on both issues. It held that the security deposit written off as bad debts was allowable as a business loss, as it was adjusted against penalties. Additionally, the liability towards royalty and technical fees, despite being old, was not considered ceased as it was still shown in the books, thus not taxable under section 41(1). en-us Fri, 08 Oct 2010 00:00:00 +0530 Fri, 13 Mar 2020 15:00:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286744 The Tribunal allowed the appellant's appeal on both issues. It held that the security deposit written off as bad debts was allowable as a business loss, as it was adjusted against penalties. Additionally, the liability towards royalty and technical fees, despite being old, was not considered ceased as it was still shown in the books, thus not taxable under section 41(1). Case-Laws Income Tax Fri, 08 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286744