https://www.taxtmi.com/caselaws?id=28895 The High Court ruled against the Department regarding the deduction of bad debt during insolvency proceedings, stating that the debt could not be considered bad until a final dividend was declared. However, the court sided with the assessee on the allowability of messing expenses as business expenditure, affirming that such expenses were admissible under prevailing practices for adhatiyas. en-us Wed, 25 Feb 1981 00:00:00 +0530 Mon, 08 Mar 2010 14:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28895 The High Court ruled against the Department regarding the deduction of bad debt during insolvency proceedings, stating that the debt could not be considered bad until a final dividend was declared. However, the court sided with the assessee on the allowability of messing expenses as business expenditure, affirming that such expenses were admissible under prevailing practices for adhatiyas. Case-Laws Income Tax Wed, 25 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28895