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Court Stresses Objective Assessment for Bad Debt Claims in Money Lending; Honest Decision Required on Debt Recovery Impossibility.

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....Claim of bad debt/ trading loss of the amount advanced by assessee in the course of its money leading activity - it is necessary to make an objective decision on the facts as to the impossibility of collection/recovery of the debt, such an opinion must be honest and ought to be made after taking into account all the relevant factors - HC....

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