https://www.taxtmi.com/caselaws?id=466310 When a registered NBFC advances a loan in the course of business and part of the principal becomes irrecoverable, that portion is allowable as a bad debt under s.36(2) or as a business loss while computing profits and gains under s.29; consequence: the unpaid half (Rs.5 Crore) was admitted as allowable. Reliance on a decision about loan waiver affecting the recipient was held inapposite because the present fact pattern involves a lender's unrecovered loan, not a waiver received. Lack of transactional detail was deemed immaterial once a decree established that only half the loan was recoverable, so the remaining loss was allowed. en-us Fri, 28 Feb 2025 00:00:00 +0530 Sun, 01 Feb 2026 19:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466310 When a registered NBFC advances a loan in the course of business and part of the principal becomes irrecoverable, that portion is allowable as a bad debt under s.36(2) or as a business loss while computing profits and gains under s.29; consequence: the unpaid half (Rs.5 Crore) was admitted as allowable. Reliance on a decision about loan waiver affecting the recipient was held inapposite because the present fact pattern involves a lender's unrecovered loan, not a waiver received. Lack of transactional detail was deemed immaterial once a decree established that only half the loan was recoverable, so the remaining loss was allowed. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466310