Bad debts - Write off of the business/trade advances receivable ...

Income Tax

December 20, 2023

Bad debts - Write off of the business/trade advances receivable from a sick company - The assessee was thus compelled to make the payment in order to ensure future supplies and thus the assessee is justified in making a decision to write off the trade advance. This is perfectly probable and acceptable. - HC

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Bad debts - Write off of the business/trade advances receivable ...

Income Tax

December 20, 2023

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