1935 (4) TMI 22

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....e 2nd December, 1921, the assessee advanced a loan of Rs. 45,000 to one Sheikh Siraj Din on the security of both his person and property. In 1924 he instituted a suit for recovery of the amount due which was decreed on the 19th December, 1925. In execution of this decree certain sum were realised leaving a balance of Rs. 26,721 on the 7th April, 1929. The judgment debtor preferred an appeal to thi....

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....missioner of Income Tax who upheld the conclusion arrived at by the Income Tax Officer but on the ground that the claim was premature as the debt had not become irrecoverable till then. The assessee moved the Commissioner who in effect restored the finding of the Income Tax Officer. Dissatisfied with this finding the assessee applied to the Commissioner under Section 66 (2) requiring him to refer ....

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....ner. On behalf of the Commissioner reliance is placed on the following observations of their Lordships of the Privy Council in Commissioner of Tax, Central and United Provinces v. Sir S. M. Chitanvis. "Whether a debt is a bad debt and if so at what point of time it became a bad debt, are questions of fact to be decided in the event of a dispute by the appropriate tribunal and not by the ipse di....