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Income Tax - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Revision u/s 263 - Additions towards provision for bad and ...

Income Tax

February 9, 2024

Revision u/s 263 - Additions towards provision for bad and doubtful debts which is not an allowable expenditure - The Tribunal considered the submissions and noted that the assessee had furnished all details during the limited scrutiny. It observed that even if the provision for bad debts was added, it would not affect the total income, which remained NIL after adjusting brought forward losses.

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