TMI BlogAdvances written off - deduction u/s 37(1) - Advances to the employees or advances made for cylinders...Advances written off - deduction u/s 37(1) - Advances to the employees or advances made for cylinders have to be held to made for carrying out business of the assessee - The expenses were of revenue nature.As there was direct and intimate relation between the advances made and the business of the assessee,same has to be allowed as regular business expenditure u/s.37 - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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