The provisions of section 36(1)(vii) do not contain the ...

Bad debts don't need to be written off in profit and loss account; must be marked irrecoverable in taxpayer's accounts.

December 6, 2014

Case Laws Income Tax AT

The provisions of section 36(1)(vii) do not contain the requirement of writing off the bad debts to the profit and loss account of the Assessee what the provision mandates that the amount of any bad debt or part thereof should be written off as irrecoverable in the Accounts of the Assessee for the previous year - AT

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The provisions of section 36(1)(vii) do not contain the ...

Bad debts don't need to be written off in profit and loss account; must be marked irrecoverable in taxpayer's accounts.

December 6, 2014

Case Laws Income Tax AT

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