DRP finds salary advances and payments don't qualify as trading losses or bad debts u/s 37(1).

Allowable expenditure u/s 37(1) - The assessee at the initial stage could not file any reply on this issue. The DRP has given a specific finding that this amount have been incurred on salary advance and other payments which are neither in the nature of trading loss nor the bad debts. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X