Apportionment of bad debt written off to the eligible units and ...

Case Laws Income Tax

April 23, 2018

Apportionment of bad debt written off to the eligible units and registering profit of those eligible units for the purpose of allowing deduction u/s 80-IB and 80-IC, as done by the revenue authorities is unsustainable. - AT

View Source

← Previous Next →

Apportionment of bad debt written off to the eligible units and ...

Case Laws Income Tax

April 23, 2018

You may also like:

Bad debts - Allowability towards service tax which was written off as bad debt u/s. 36(1)(vii) - Since service tax payment recovery is denied by the DIP, the assessee...

Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Reopening of assessment u/s 147 - Bad Debts - Petitioner clearly showed that the Petitioner had in response to specific queries raised during the assessment proceedings,...

Write off of irrecoverable principal amount of loan - AO had allowed the claim of bad debts in respect of the unrealized interest but had disallowed the claim in respect...

Revision u/s 263 - bad debts written off - assessee had not even reflected under the head “bad debts” in the relevant column of ITR - though it was mistakenly omitted,...

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...

Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

Assessee wrote off provision for bad and doubtful debts by debiting profit and loss account and reducing corresponding amount from loans and advances to debtors in...

MAT - Adjustment of bad debts for the purpose of book profits u/s.115JB - the bad debts which is reduced from the asset side of the debts which amounts to actual write...

Deduction of bad debts - The customers of the assessee refused to make payment and therefore, the assessee had written off the amount as not recoverable. It is pertinent...

Quick Updates: