https://www.taxtmi.com/caselaws?id=34117 The court dismissed the appeal, upholding the decisions of the lower authorities. It emphasized the timing of treating the loss as bad debt and clarified that the absence of income in a specific year does not hinder the claim of business expenditure. The appellant's claim of non-refund of customs duty as business loss under section 37(1) was allowed, and the expenditure was considered as business expenditure despite the lack of business activity during the assessment year 1999-2000. en-us Wed, 11 Feb 2009 00:00:00 +0530 Thu, 16 Jul 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34117 The court dismissed the appeal, upholding the decisions of the lower authorities. It emphasized the timing of treating the loss as bad debt and clarified that the absence of income in a specific year does not hinder the claim of business expenditure. The appellant's claim of non-refund of customs duty as business loss under section 37(1) was allowed, and the expenditure was considered as business expenditure despite the lack of business activity during the assessment year 1999-2000. Case-Laws Income Tax Wed, 11 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34117