https://www.taxtmi.com/caselaws?id=59068 The ITAT Bombay-D partly allowed the appeal, rejecting the claim for bad debt or capital loss regarding an outstanding loan, modifying the disallowance of telephone expenses, and adjusting the cost of office premises to a higher figure as per the assessee's working. The decision emphasized that since the right to receive the outstanding amount was not lost, it could not be treated as a bad debt or capital loss, distinguishing it from a previous Gujarat High Court decision. en-us Thu, 12 Jan 1989 00:00:00 +0530 Thu, 23 Dec 2010 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59068 The ITAT Bombay-D partly allowed the appeal, rejecting the claim for bad debt or capital loss regarding an outstanding loan, modifying the disallowance of telephone expenses, and adjusting the cost of office premises to a higher figure as per the assessee's working. The decision emphasized that since the right to receive the outstanding amount was not lost, it could not be treated as a bad debt or capital loss, distinguishing it from a previous Gujarat High Court decision. Case-Laws Income Tax Thu, 12 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59068