https://www.taxtmi.com/caselaws?id=23604 An amount written off was treated as an advance for expenditure rather than a bad debt, and the Tribunal upheld the write-off on the facts after legal advice was obtained and the relevant books remained open. On that footing, the dispute turned on factual appreciation rather than any unsettled legal principle, so no referable question of law arose under section 256(2) of the Income-tax Act, 1961. The reference application was therefore rejected, with the issue decided in favour of the assessee and against the Revenue. en-us Fri, 13 Jan 1989 00:00:00 +0530 Tue, 22 Dec 2009 16:00:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23604 An amount written off was treated as an advance for expenditure rather than a bad debt, and the Tribunal upheld the write-off on the facts after legal advice was obtained and the relevant books remained open. On that footing, the dispute turned on factual appreciation rather than any unsettled legal principle, so no referable question of law arose under section 256(2) of the Income-tax Act, 1961. The reference application was therefore rejected, with the issue decided in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 13 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23604