Validity of writing off bad-debts after the end of financial ...

Case Laws Income Tax

October 28, 2013

Validity of writing off bad-debts after the end of financial year - In the case evidence is post 31.13.2008, the assessee's claim would be valid only where the event/s enables assessment of the position as obtaining on 31.03.2008, and not otherwise. - AT

View Source

← Previous Next →

Validity of writing off bad-debts after the end of financial ...

Case Laws Income Tax

October 28, 2013

You may also like:

Validity of order u/s.201 & u/s.201(1A) - tds liability - period of limitation - As per this time limit to pass order u/s.201(1) & 201(1A) of the Act is two years from...

Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

Bad debts - Allowability towards service tax which was written off as bad debt u/s. 36(1)(vii) - Since service tax payment recovery is denied by the DIP, the assessee...

Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

MAT computation - Provision for bad and doubtful debts - If, at the end of the year showing the loans and advances on the asset aside of the balance sheet as net of the...

Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

Addition u/s 41(1) - benefit by way of remission or cessation of liability - In the instant case, the first mentioned person is the assessee, but not the creditor. In...

Reopening of assessment u/s 147 - Bad Debts - Petitioner clearly showed that the Petitioner had in response to specific queries raised during the assessment proceedings,...

Write off of irrecoverable principal amount of loan - AO had allowed the claim of bad debts in respect of the unrealized interest but had disallowed the claim in respect...

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Disallowance of bad debt written off - assessee knowing to fact that its business going to discontinue from immediate subsequent year deliberately written off good...

Quick Updates: