Dead loss v/s bad debts - investment made by the assessee in a ...

ITAT Remands Case to AO for Verification of Debt Write-Off in Taxpayer's Books After Sister Company's Liquidation.

June 12, 2020

Case Laws Income Tax HC

Dead loss v/s bad debts - investment made by the assessee in a sister concern for purchase of equity shares which into liquidation - ITAT has not recorded a specific finding by assigning reasons that in the books of account the debts have been written off. Only in a single sentence, it is stated that the assessee had in its books of account written off its debt as irrecoverable. - Matter restored before AO to ascertain the facts.

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Dead loss v/s bad debts - investment made by the assessee in a ...

ITAT Remands Case to AO for Verification of Debt Write-Off in Taxpayer's Books After Sister Company's Liquidation.

June 12, 2020

Case Laws Income Tax HC

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