Disallowance of bad debts relating to write off of rental ...

Income Tax

December 7, 2015

Disallowance of bad debts relating to write off of rental advance - It is clear that this advance payment was not for the normal course of business/trade. Since the capital asset is created, the same cannot be treated as revenue loss but capital loss. - AT

View Source

← Previous Next →

Disallowance of bad debts relating to write off of rental ...

Income Tax

December 7, 2015

You may also like:

Business loss or Bad Debts - written off of advances – advances given for material supply – held as business loss instead of bad debts - claim allowed - AT

Deletion of disallowance of bad debts/ advances written off – Allowability to deduct the losses and debts of subsidiary company – claim allowed - AT

Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

It is not necessary for an assessee to establish the debts to have actually become bad - Disallowance in respect of loss on advances written off allowed - AT

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...

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

Exclusion of bad debts as sundry balances written off from the operating expenses on the ground that the same relates to domestic sales - AT

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....

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...

Disallowance of amount written off on account of bad intercorporate deposits (ICD) - even if a part of debt is offered to tax, Section 36(2)(i) of the Act, stands satisfied - HC

Quick Updates: