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Claim of bad debts - nature of amount received on settlement - whether towards principal or interest - in view of sections 60 of the Indian Contract Act it is at the option of the person receiving money to adjust the same either against the principal or interest as it deem fit - HC

Income Tax - Claim of bad debts - nature of amount received on settlement - whether towards principal or interest - in view of sections 60 of the Indian Contract Act it is at the option of the person .....

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