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2007 (10) TMI 284 - DELHI HIGH COURTSum was advanced to purchase a capital asset for the assessee - non-return of the money so advanced - unless the advance made was in the course of trading or incidental to the business of the assessee, the bad debts arising therefrom could not be treated as a business loss - conclusion of Tribunal that the non-recovery of the said sum was a business loss is contrary to the assessee‘s letter, which makes the position explicit that it was advanced for the purchase of a capital asset - non-recovery by the assessee would, amount to a capital loss
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