https://www.taxtmi.com/caselaws?id=49438 The Supreme Court affirmed the lower courts' decision regarding the assessment of bad and doubtful debts under section 10(2)(xi) of the Indian Income-tax Act for the year 1950-51. The Court upheld the Tribunal's findings that debts due from certain firms had become bad in 1947, leading to the disallowance of the bad debt claim for 1949. The Court emphasized the factual nature of determining bad debts and the importance of evidence supporting the debts' irrecoverability in 1947. Consequently, the appeal was dismissed, affirming the denial of the bad debt claim for the year 1949. en-us Tue, 27 Mar 1962 00:00:00 +0530 Wed, 27 Aug 2014 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49438 The Supreme Court affirmed the lower courts' decision regarding the assessment of bad and doubtful debts under section 10(2)(xi) of the Indian Income-tax Act for the year 1950-51. The Court upheld the Tribunal's findings that debts due from certain firms had become bad in 1947, leading to the disallowance of the bad debt claim for 1949. The Court emphasized the factual nature of determining bad debts and the importance of evidence supporting the debts' irrecoverability in 1947. Consequently, the appeal was dismissed, affirming the denial of the bad debt claim for the year 1949. Case-Laws Income Tax Tue, 27 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49438