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1996 (1) TMI 2 - SUPREME COURTHeld that in cases of " sticky advances " what could really be done is that on the assessee writing off the advances, the same would become bad debt and could be so dealt by the assessee as permitted by the relevant section of the Income-tax Act, 1961 - on the advances becoming bad debts, refund of tax paid on the interest could be claimed by the assessee in accordance with law
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