Advances written off in P & L - business purposes - The circumstances pointed out by the CIT cannot be a...

Advances written off in P & L - business purposes - The circumstances pointed out by the CIT cannot be a ground to come to a conclusion that the advances given is not for genuine business purposes - loss on account of forfeiture of advance paid is incidental to the business of the assessee and is allowable as a deduction u/s 37(1) or u/s 28 - AT .....

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