How to deal with a case where contract revenue is not recorded in the books of account, but offered to tax as per ICDS, and turns bad.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sure standards - Income Tax - Manuals - FAQ - Dated:- 22-8-2017 - Manual - ICDS III : Construction Contracts An assessee cannot write-off a debt which was not recorded in the books of account bu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... debt or part thereof has been taken into account in computing the income of the assessee of the previous year in which the amount of such debt or part thereof becomes irrecoverable or of an earlier pr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X