https://www.taxtmi.com/caselaws?id=56209 The Tribunal upheld the Commissioner (Appeals)'s decision to allow the deduction of Rs. 4,65,121 as bad debt or business loss, emphasizing the irrecoverability of the amount. It also ruled against charging interest under section 217 of the Income Tax Act, stating that since the bad debt claim was accepted, no interest could be levied. The Tribunal dismissed the revenue's appeal, affirming the decision in favor of the assessee. en-us Fri, 03 Jul 1987 00:00:00 +0530 Thu, 02 Dec 2010 13:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56209 The Tribunal upheld the Commissioner (Appeals)'s decision to allow the deduction of Rs. 4,65,121 as bad debt or business loss, emphasizing the irrecoverability of the amount. It also ruled against charging interest under section 217 of the Income Tax Act, stating that since the bad debt claim was accepted, no interest could be levied. The Tribunal dismissed the revenue's appeal, affirming the decision in favor of the assessee. Case-Laws Income Tax Fri, 03 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56209