Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Disallowance of writing off loans and advances - As per the ...

Income Tax

April 24, 2017

Disallowance of writing off loans and advances - As per the scheme sanctioned by the BIFR - Only those assets and liabilities were shown, which were recoverable and payable respectively by the new management and loans and advances which are not recoverable were written off in the line of the sanctioned scheme - claim allowed - AT

View Source

 


 

You may also like:

  1. Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

  2. Allowability of capital loss as well as the right of deferred tax assets - Disallowance of capital expenditure debited to the profit and loss account - whether CIT-A...

  3. Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

  4. 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....

  5. 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...

  6. Write off of irrecoverable principal amount of loan - AO had allowed the claim of bad debts in respect of the unrealized interest but had disallowed the claim in respect...

  7. MAT computation - Provision for bad and doubtful debts - If, at the end of the year showing the loans and advances on the asset aside of the balance sheet as net of the...

  8. Advances written off - Once the advances are held to be business advances they are allowable as deduction either u/s. 37(1) or u/s. 28 of the Act as business loss....

  9. Disallowance of advances written off - the parent company has not reimbursed the amount only on account of change of policy of the parent company. - the assessee has...

  10. Disallowing the business advances written off - Trading loss u/s 28 - claim of assessee to be considered u/s. 28 or section 37 - In the present facts of the case, there...

  11. Addition of debit balance written off - trade advance which is written off as irrecoverable and so to be treated as a business loss - first prove that the advances were...

  12. Amount of loan waived - whether it does not constitute the income of the assessee in the context of Section 28[iv] - Once the loan is written off and the person writing...

  13. Addition u/s 41 - sick company - cessation of liability towards unsecured loans availed from financial institutions in terms of order of the BIFR - Apex Court has held...

  14. Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

  15. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

 

Quick Updates:Latest Updates