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    Income Tax

    Addition of debit balance written off - trade advance which is...

    Trade Advance Not Proven as Business Loss, Addition Sustained Due to Lack of Recovery Efforts Documentation.

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    Income TaxApril 26, 2019Case LawsAT

    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 paid during the ordinary course of business - secondly, he took all steps to recover the advanced amount - not proved, addition sustained

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