https://www.taxtmi.com/caselaws?id=768472 Ad hoc disallowances were rejected where no specific nexus to non-business use was shown, while liabilities that crystallised during the year were allowed on mercantile principles. Write-off of bad debts and sundry balances was treated as deductible where the books reflected the write-off, and waiver of a capital loan was not taxed as business income merely because it created a monetary benefit. Current repairs to premises and plant were held allowable as revenue expenditure, section 14A disallowance based only on estimate was deleted, and book profit adjustments for provisions for doubtful debts, gratuity and leave encashment were confined to the MAT rules on ascertained liabilities. en-us Tue, 03 Dec 2024 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768472 Ad hoc disallowances were rejected where no specific nexus to non-business use was shown, while liabilities that crystallised during the year were allowed on mercantile principles. Write-off of bad debts and sundry balances was treated as deductible where the books reflected the write-off, and waiver of a capital loan was not taxed as business income merely because it created a monetary benefit. Current repairs to premises and plant were held allowable as revenue expenditure, section 14A disallowance based only on estimate was deleted, and book profit adjustments for provisions for doubtful debts, gratuity and leave encashment were confined to the MAT rules on ascertained liabilities. Case-Laws Income Tax Tue, 03 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768472