1974 (2) TMI 21 - HC - Income Tax

Summary

The High Court of Allahabad ruled in favor of the assessee, allowing the deduction of bad debts for the assessment year 1957-58. The Tribunal's finding that the debts had become bad in the relevant previous year was upheld. The department's argument that the burden of proof was not discharged by the assessee was rejected. The question was answered in the affirmative in favor of the assessee, who was awarded costs of Rs. 200.