TaxTMI 
TaxTMI 
Entity's Bad Debt Claim Allowed After Contract Termination and Forfeited Amount with BHEL to Prevent Further Losses.
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....Disallowance of bad debt/business loss being the amount forfeited by BHEL on account of termination of contract - The assessee probably came to terms with the occasion of suffering such losses in wake of the fact of saving itself from incurring further huge losses. - claim allowed - AT....