https://www.taxtmi.com/caselaws?id=421565 The High Court upheld the disallowance of the claim of bad debts as a business loss or bad debt due to insufficient evidence supporting a business purpose for the incurred loss. The Court found that the appellant failed to establish a business connection or intention to purchase property for business expansion. The appeal was dismissed, emphasizing that interference is warranted only when a judgment is proven wrong, not merely not right. en-us Mon, 28 Mar 2022 00:00:00 +0530 Mon, 21 Nov 2022 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421565 The High Court upheld the disallowance of the claim of bad debts as a business loss or bad debt due to insufficient evidence supporting a business purpose for the incurred loss. The Court found that the appellant failed to establish a business connection or intention to purchase property for business expansion. The appeal was dismissed, emphasizing that interference is warranted only when a judgment is proven wrong, not merely not right. Case-Laws Income Tax Mon, 28 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421565