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2017 (3) TMI 904 - HC - Income TaxInvestment write off - whether could be characterised on the Revenue side or did it fall in the Capital side as loss? - Held that:- Where monies were advanced through the mechanism of equity participation, the intention of the lender – in the present case, the assessee, was to derive income rather than to increase its investment on the capital side. Such being the case, if there were profits, with the assessee/lender from the investment, it would properly lie in the Revenue side of income and conversely, if there were losses – as in the present case – it properly would have fallen, as was correctly claimed, as bad debts in the present instance. See Badridas Daga Versus Commissioner Of Income-Tax [1958 (4) TMI 2 - SUPREME Court ]
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