Part of the amount advanced by the Assessee towards purchase of immovable property, being stock-in-trade, had subsequently become irrecoverable. The same was written-off by the Assessee from its profit & loss account and therefore, claimed as deduction while computing income. Held, although the AO was correct in holding the said amount cannot be allowed as a bad debt since it was not offered as income on any earlier occasion by the Assessee, however, the facts that the same is in nature of loss incidental to carrying of its business was allowable as deduction for arriving at its true income. CIT v. Mysore Sugar Co. Ltd. [(1962) 46 ITR 649 (SC)] followed. (AY.2015-16)