Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    LTCG - deduction u/s 54F - Ownership of more than...     TaxTMI    Deductions u/s 80IC - audit report in Form 10 CCB,...     TaxTMI    Seeking grant of bail - Evasion of GST - The High...     TaxTMI    Territorial Jurisdiction - seeking transfer of...     TaxTMI    Eligibility for Composition scheme - ice-cream -...     TaxTMI    Characterization of receipt - amount received by...     TaxTMI    Validity of assessment order - SCN as also the...     TaxTMI    Seeking reimbursement of GST amount paid by the...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Valuation of imported goods - inclusion of royalty...     TaxTMI    Validity Of Order passed u/s 73 of the Central...     TaxTMI    Denial of Input Tax Credit (ITC) - Proof of...     TaxTMI    Rectification petition - Validity Of Order passed -...     TaxTMI    Service of SCN - Breach of principles of natural...     TaxTMI    The Ministry of Finance's recent notification...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Deduction of bad-debts relating to running and terminated chits ...

Income Tax

June 13, 2018

Deduction of bad-debts relating to running and terminated chits - the claim of the assessee for deduction of bad debts written off is also allowable alternatively as business loss u/s 28(i)

View Source

 

← Previous Next →

 

You may also like:

  1. 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

  2. Chit funds - Claim of deduction on bad debts on running and terminated groups – bad debts can be allowed to the extent of instalments defaulted by the prized subscribers...

  3. Disallowance of bad debts written off - bad debts in respect of subscriptions defaulted by the prized subscribers - The Tribunal found the CIT(A)'s decision...

  4. 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...

  5. 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...

  6. 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...

  7. 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

  8. Chit fund as not a money lending business - Tribunal treating moneys not paid by the prize chit winners as bad debts ? - relationship of creditor and debtor between the...

  9. 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...

  10. Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

 

Quick Updates:Latest Updates

H: Denial of specific request for personal hearing - The High Court noted...
F: gst rule 96(10)
H: Deduction u/s 80P - interest income(s) derived from such nationalized/...
H: Additions based on Cash Expenditure - Disclosure were made by the appe...
H: Validity of order passed u/s 154 - Amount to Review of the original as...
H: Nature of expenses - Relaunch expenses - deferred revenue expenditure ...
H: Addition of bogus sales - difference in opinion between learned Member...
H: Additions on account of Bogus unsecured loans and bogus share capital ...
F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
H: Computation of LTCG u/s. 50C - leasehold right on land acquired - valu...
H: Enhancement of assessment - Power of CIT(A) u/s 251(2) - addition u/s ...
H: Addition of commission expenses and franking charges - Allowable busin...
F: Credit Note
H: Disallowance of interest paid to Head Office - Non deduction of TDS - ...
H: Additions (Benefit) u/s 28(iv) - Expenditure incurred by the HO for sa...
H: Revision u/s 263 - As per CIT, AO has not examined the issue of intere...
F: Input Tax Credit
N: Rate of exchange of one unit of foreign currency equivalent to Indian ...
C: Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th S...
C: Circular on Standardization of the Private Placement Memorandum (PPM) ...
H: Assessment u/s 153A - Addition u/s 68 - bogus unsecured loan - unexpla...
H: Addition u/s 69 - The dispute arose from the purchase of immovable pro...
C: Discontinuation of Safeguard measures on import of Isopropyl alcohol (...
N: Notify “Public Tech Platform for Frictionless Credit” as the system wi...
N: Seeks to rescinds Notification G.O. (P) No.123/2023/TAXES dated the 12...
A: The onus is entirely on the Revenue to establish existence of PE every year
A: Know the Contrasts between PF and ESIC
A: RECENT SUPREME COURT JUDGMENTS ON ARBITRATION
A: If tax liability including interest has been paid subsequently SCN can...
A: REJECTION OF APPLICATION FOR INSOLVENCY RESOLUTION PROCESS OF PERSONAL...