TMI BlogCourt Rules Inter-Corporate Deposits and Interest Income Alone Don't Prove Money Lending Business Activity; Bad Debt Claim Denied.Bad debts - mere fact that the assessee had made some inter-corporate deposits and the assessee earned income by way of interest in itself is not a circumstance to conclude that it was carrying on money lending activity as part of its business activity. - Claim of bad debts denied - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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