Disallowance of bad debt/forfeiture of advance - If there is ...

Income Tax

August 1, 2020

Disallowance of bad debt/forfeiture of advance - If there is direct and proximate nexus between the business operation and the loss, or it is incidental to it, then the loss is deductible since without the business operation and doing all that is incidental to it, no profit can be earned - the same is business loss and not bad debts - Additions deleted - AT

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Disallowance of bad debt/forfeiture of advance - If there is ...

Income Tax

August 1, 2020

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