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1974 (2) TMI 5 - JAMMU AND KASHMIR HIGH COURT
Forest contractor advanced money to sub-contractors for cutting and moving the trees. But the forest contract was not renewed. Accordingly portion of the advances became irrecoverable - After a scrutiny of the details of these bad debts the Income-tax Officer disallowed the bad debts amounting to Rs. 27,959 - The Income-tax Officer did not allow any extension in respect of a sum of Rs. 27,959 advanced to various sub-contractors on account of the fact that the assessee had not taken any step for the realisation of those debts " Whether, on the facts and in the circumstances of the case, the deduction of Rs. 27,959 claimed by the assessee was rightly refused by the Appellate Tribunal ? "