TMI BlogDeduction of bad and doubtful debt u/s 36(1)(vii) - Advance against the purchase of property - This...Deduction of bad and doubtful debt u/s 36(1)(vii) - Advance against the purchase of property - This court is of the opinion that as a proposition of law, that enunciation is unexceptional, since the heads of expenditure that can be claimed as deduction are not exhaustive – which is the precise reason for the existence of Section 37. Therefore, in a given case, if the expenditure relates to business, and the claim for its treatment under other provisions are unsuccessful, application of Section 3..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
|