Advances written off - Once the advances are held to be business ...

Business Advances Deductible as Expenses or Losses Under Income Tax Act, Voluntary Write-Offs Not Grounds for Denial.

January 9, 2019

Case Laws Income Tax AT

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. Deduction cannot be denied on the ground that the assessee had suo moto written off the advances.

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Advances written off - Once the advances are held to be business ...

Business Advances Deductible as Expenses or Losses Under Income Tax Act, Voluntary Write-Offs Not Grounds for Denial.

January 9, 2019

Case Laws Income Tax AT

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