TMI BlogBad Debts - Investments written-off - Nevertheless, no new manufacturing unit would have come into...Bad Debts - Investments written-off - Nevertheless, no new manufacturing unit would have come into existence and no new asset was proposed to be acquired by the assessee. The advances were given in the normal course of business out of commercial expediency which would have improved the profit-making apparatus without disturbing the capital setup of the assessee. There is no dispute that the said advances became irrecoverable and accordingly, the same were written-off in the books of accounts. - ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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