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2018 (12) TMI 49 - MADRAS HIGH COURTAdvance of amount in the normal course of the assessee's business - business of lottery agency - claim for deduction was under Section 28 - Held that:- In the instant case, we have seen that the assessee is not only in the business of lottery agency, but also in the business of financing as well. Records disclose that from the assessment year 1998-99, they have been advancing loans and receiving interest. Therefore, as a part of commercial expediency, the assessee, with a view to earn additional income, has advanced the surplus money available to their sister concern, which, on becoming irrecoverable, has been written off as a bad debt. For all the above reasons, we find that the Tribunal committed an error in reversing the order passed by the CIT (A) - decided in favour of assessee
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