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1971 (1) TMI 3 - SC - Income Tax
Payments made by the assessee as taxes under s. 18(3B) of Indian Income-tax Act, 1922 and which it could not recover from the non-resident cannot be treated as a bad debt under s. 10(2)(xi) of Indian Income-tax Act, 1922. The payment made under a statutory obligation because the assessee was in default does not amount to an expenditure laid out for the purposes of assessee's business - assessee's appeal dismissed