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2010 (12) TMI 1348 - ITAT DELHIExtract: .......a case of bad debt, covered under sections 36 and 37, because it was not taken into account while computing the income of this year or an earlier year. The amount is deductible as loss on first principle u/s 29 of the Act. 6. In the result, the appeal is allowed as indicated above. This order was pronounced in the open court on 27th December, 2010.
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