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2011 (6) TMI 273 - HC - Income TaxBad debts u/s 36(1)(vii) read with section 36(2). - Tribunal misdirected itself in holding that the conditions of section 36(2) were not fulfilled in a case where the advance/debt itself was not shown as income in the profit and loss account. - Held that: - Amount should be advanced in ordinary course of business which by itself proves its revenue nature and no further conditions are required to be satisfied as per Section 36(2). decided in favour of Assessee.
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