INCOME TAX : Where Assessing Officer rejected assessee’s claim of bad debts/trading loss on ground that claim of bad debts-trading loss was not well founded and debtor was having substantial income and both Commissioner (Appeals) and Tribunal confirmed order of Assessing Officer, whether a debt is bad is essentially a question of fact and as assessee had not made out any question of law, instant appeal deserved to be dismissedINCOME TAX : Where Assessing Officer rejected assessee’s claim of bad debts/trading loss on ground that claim of bad debts-trading loss was not well founded and debtor was having substantial income and both Commissioner (Appeals) and Tribunal confirmed order of Assessing Officer, whether a debt is bad is essentially a question of fact and as assessee had not made out any question of law, instant appeal deserved to be dismissedwww.taxmann.com Latest Case LawsRead More
