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    Business loss u/s 28/37(1) - write off/bad debt - advances /bad...

    Business Loss Claim Approved for Bad Debts and Write-offs Under Income Tax Act Sections 28 and 37(1.

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    Income TaxMay 22, 2021Case LawsAT

    Business loss u/s 28/37(1) - write off/bad debt - advances /bad debt written off in respect of 22 parties - In view of the discussion and relying on the decisions cited (supra), we are of the considered opinion that the claim of the assessee has to be allowed as business loss u/s 28/37(1) of the IT Act. - AT

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