Write off of irrecoverable principal amount of loan - AO had ...

Income Tax

January 23, 2021

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 of write off of principal amount of loan on the reason that the department has preferred an appeal before the Hon’ble High Court against the decision of Tribunal in AY 2002-03 wherein decided the issue in favour of assessee and allowed the write off of bad debts. - CIT(A) rightly allowed the claim - AT

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Write off of irrecoverable principal amount of loan - AO had ...

Income Tax

January 23, 2021

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