https://www.taxtmi.com/caselaws?id=57989 The appellant's appeal was partially allowed. The Tribunal upheld the disallowance of the contribution to the Molasses & Alcohol Reserve Fund. However, the Tribunal allowed the reconsideration of bad debts as a trading loss, finding merit in the appellant's argument regarding the nature of the debts. Additionally, the Tribunal ruled in favor of the appellant regarding the inclusion of a sum under Section 41(2) of the Income Tax Act, determining that the transaction did not constitute a sale within the meaning of the provision. en-us Thu, 08 Feb 1990 00:00:00 +0530 Wed, 15 Dec 2010 17:13:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57989 The appellant's appeal was partially allowed. The Tribunal upheld the disallowance of the contribution to the Molasses & Alcohol Reserve Fund. However, the Tribunal allowed the reconsideration of bad debts as a trading loss, finding merit in the appellant's argument regarding the nature of the debts. Additionally, the Tribunal ruled in favor of the appellant regarding the inclusion of a sum under Section 41(2) of the Income Tax Act, determining that the transaction did not constitute a sale within the meaning of the provision. Case-Laws Income Tax Thu, 08 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57989