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

Tribunal Rules on Bad Debt Provisions: Additions Not Allowable, Income Remains NIL Due to Brought Forward Losses.

February 9, 2024

Case Laws Income Tax AT

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

Tribunal Rules on Bad Debt Provisions: Additions Not Allowable, Income Remains NIL Due to Brought Forward Losses.

February 9, 2024

Case Laws Income Tax AT

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