Provision for bad and doubtful debts of standard asset - the ...

Income Tax

May 7, 2018

Provision for bad and doubtful debts of standard asset - the provision for standard assets cannot be equated with the Provision for bad and doubtful debt and the assessee’s argument that only the nomenclature is different is unacceptable. - AT

View Source

← Previous Next →

Provision for bad and doubtful debts of standard asset - the ...

Income Tax

May 7, 2018

You may also like:

Deduction u/s 36(1)(viia) - provision created for bad and doubtful debts - RBI guidelines prescribes the provision on standard assets from the year ended March 31, 2000...

MAT computation - Provisions made for Bad and Doubtful debts - if the bad debt or doubtful debt is reduced from the loans and advances or the debtors from the assets...

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 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...

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...

Deduction u/s 36(1)(viia) of the Act - Provision for bad and doubtful debts - provision for bad and doubtful debts newly created during the year under consideration...

MAT Computation - Even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

MAT Computation - even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

Bad and doubtful debts written off disallowed – provision for bad and doubtful debts cannot be allowed u/s 36(1)(vii) - AT

MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

Bad & doubtful debt or mere Provisions were made - provisions u/s.36(1) (vii) and 36(1) (viia) are separate and independent to each other - CIT(A) has rightly observed...

Assessee is not entitled to deduction of any provision created for bad and doubtful debts, no matter such provision is created based on the prevalent accounting policies...

Claim of bad debts – advance given for purchase of capital assets are not allowable as bad debts/business loss - AT

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...

Bad debts - Provision for doubtful debts and doubtful advances - Assessee has not written off the provision for doubtful debts in the individual ledger account of the...

Quick Updates: