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2001 (9) TMI 46 - CALCUTTA HIGH COURT
Extract:
.......ed as bad debt. As we allow the amount of Rs.1,76,751 as bad debt, therefore, whether it is a business loss or not, the answer to this first question will be of academic interest. In the result, we answer question No. 2 in the negative, that is, in favour Of the assessee and against the Revenue. The reference so made stands disposed of accordingly.