Loss of investment not entitled as bad debts even cannot be claimed as business loss

Ceramin India Private Limited Vs DCIT (ITAT Hyderabad) ITAT Hyderabad held that if the assessee is not entitled to claim the loss of investment as bad debts, the same cannot be claimed as business loss as per his sweet will. Facts- The assessee is a company engaged in the business of trading in minerals & processing related to ceramics. It filed its return of income declaring total income at Rs.1,44,86,260 under normal provisions and book profit of Rs.1,42,80,309/- under the provisions of section 115JB of the Income Tax Act, 1961. The AO observed from the profit and loss account that the a...