Bad debits - if the assessee decided to write off the said ...

Assessees can write off business advances without proving exhaustive recovery efforts or absolute irrecoverability of debts.

February 13, 2017

Case Laws Income Tax AT

Bad debits - if the assessee decided to write off the said advances/securities given in ordinary course of business, in its books of accounts, the claim of assessee cannot be discarded simply because substantial evidences were not placed to prove its efforts of their recovery or that the said debts became irrecoverable, by way of stepping into the shoes of business. - AT

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Bad debits - if the assessee decided to write off the said ...

Assessees can write off business advances without proving exhaustive recovery efforts or absolute irrecoverability of debts.

February 13, 2017

Case Laws Income Tax AT

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