https://www.taxtmi.com/caselaws?id=37348 A debt may be written off as bad where, on an objective appraisal of all relevant circumstances, the assessee bona fide treats it as irrecoverable; the timing of the write-off is relevant but not conclusive, and later recovery steps do not defeat the claim unless they show the debt was still genuinely regarded as recoverable. For property-related deductions, actual user of the asset in the relevant accounting year must be established on the material before the revenue authorities. Past use or mere availability for use is insufficient, and without proof of actual user the claim for loss on sale under section 10(2)(vii) fails. en-us Fri, 18 Nov 1977 00:00:00 +0530 Mon, 29 Mar 2010 12:04:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37348 A debt may be written off as bad where, on an objective appraisal of all relevant circumstances, the assessee bona fide treats it as irrecoverable; the timing of the write-off is relevant but not conclusive, and later recovery steps do not defeat the claim unless they show the debt was still genuinely regarded as recoverable. For property-related deductions, actual user of the asset in the relevant accounting year must be established on the material before the revenue authorities. Past use or mere availability for use is insufficient, and without proof of actual user the claim for loss on sale under section 10(2)(vii) fails. Case-Laws Income Tax Fri, 18 Nov 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37348