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Income Tax - Highlights / Catch Notes

Home Highlights January 2013 Year 2013 This

Bad debts - Inter Corporate Deposit (ICD) - once interest income ...

Case Laws     Income Tax

January 9, 2013

Bad debts - Inter Corporate Deposit (ICD) - once interest income has been taxed as business income, and the assessee has written off this amount as irrecoverable, the same has to be allowed as bad debt under section 36(1)(vii) r/w section 36(2) - AT

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