https://www.taxtmi.com/caselaws?id=777126 ITAT upheld the CIT(A)'s deletion of the assessing officer's disallowance, holding the advances written off to the subsidiary were connected with the assessee's hotel business and thus deductible. The tribunal found the write-off arose in the relevant year, was not a capital loss, and could be claimed alternatively under section 37(1) or as bad debt under section 36(1)(vii), since part of the amount had already been offered as income. Revenue's objections regarding nexus, borrower's net worth and tax-avoidance motive were rejected. en-us Tue, 29 Apr 2025 00:00:00 +0530 Sat, 23 Aug 2025 10:27:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777126 ITAT upheld the CIT(A)'s deletion of the assessing officer's disallowance, holding the advances written off to the subsidiary were connected with the assessee's hotel business and thus deductible. The tribunal found the write-off arose in the relevant year, was not a capital loss, and could be claimed alternatively under section 37(1) or as bad debt under section 36(1)(vii), since part of the amount had already been offered as income. Revenue's objections regarding nexus, borrower's net worth and tax-avoidance motive were rejected. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777126