https://www.taxtmi.com/caselaws?id=470607 Additional evidence relating to unsecured loans, share valuation and futures-and-options losses may be admitted under Rule 29 where it is material to disputed additions, was not withheld deliberately, and is necessary for a just decision. Where factual verification is required, the affected issues may be remanded for fresh consideration after allowing the other side an opportunity to respond. Bad debts arising from loans advanced in the ordinary course of a money-lending business may be deductible when written off in the accounts and the related interest has been offered to tax. Under the post-amendment position, proof of actual irrecoverability is not required if the statutory conditions are met. en-us Mon, 24 Mar 2025 00:00:00 +0530 Fri, 31 Jul 2026 19:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470607 Additional evidence relating to unsecured loans, share valuation and futures-and-options losses may be admitted under Rule 29 where it is material to disputed additions, was not withheld deliberately, and is necessary for a just decision. Where factual verification is required, the affected issues may be remanded for fresh consideration after allowing the other side an opportunity to respond. Bad debts arising from loans advanced in the ordinary course of a money-lending business may be deductible when written off in the accounts and the related interest has been offered to tax. Under the post-amendment position, proof of actual irrecoverability is not required if the statutory conditions are met. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470607