Allowance of bad debts - Provision made was pre-matured - It was ...

Income Tax

January 17, 2014

Allowance of bad debts - Provision made was pre-matured - It was only contingent liability or notional loss which could not be allowed as an expenditure under provisions of I.T Act - AT

View Source

← Previous Next →

Allowance of bad debts - Provision made was pre-matured - It was ...

Income Tax

January 17, 2014

You may also like:

Disallowance claimed as bad debts -assessee has claimed provision during the assessment year without any advice of the RBI against the provisions of the Income-tax Act -...

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Allowance of of bad debts - advances given by the assessee had become actually bad - deduction u/s 36(1)(vii) cannot be denied - HC

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

Bad and doubtful debts written off disallowed – provision for bad and doubtful debts cannot be allowed u/s 36(1)(vii) - AT

Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

Cenvat Credit - pre-mature credit on input services - credit availed before making payment - Scope of Rule 4(7) of Cenvat Credit Rules, 2004 - credit cannot be denied - AT

Disallowance of interest, DEMAT charges, Membership Subscription out of short term capital gain - disallowance so made by the AO is pre-mature - AT

Quick Updates: