https://www.taxtmi.com/caselaws?id=23656 The court ruled that the interest income written off as bad debt by the company was an admissible deduction under 'Income from other sources' for the assessment year 1970-71. The Tribunal's decision to allow the deduction was upheld, emphasizing that even if the income was categorized as 'income from other sources,' the deduction would still be permissible. The lack of a specific finding regarding the nature of the interest income led to the conclusion that the deduction should be allowed if it was not taxed under 'income from other sources.' The decision favored the assessee, with no costs awarded. en-us Tue, 26 Sep 1989 00:00:00 +0530 Wed, 23 Dec 2009 11:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23656 The court ruled that the interest income written off as bad debt by the company was an admissible deduction under 'Income from other sources' for the assessment year 1970-71. The Tribunal's decision to allow the deduction was upheld, emphasizing that even if the income was categorized as 'income from other sources,' the deduction would still be permissible. The lack of a specific finding regarding the nature of the interest income led to the conclusion that the deduction should be allowed if it was not taxed under 'income from other sources.' The decision favored the assessee, with no costs awarded. Case-Laws Income Tax Tue, 26 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23656