Chit fund as not a money lending business - Tribunal treating moneys not paid by the prize chit winners...

Chit fund as not a money lending business - Tribunal treating moneys not paid by the prize chit winners as bad debts ? - relationship of creditor and debtor between the assessee and the subscribers to the chit to warrant the treatment of default in payment by them as bad debt? - Claim of bad debts allowed. .....

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