Expenses as claimed u/s. 57(iii) - old dues not payable shown as ...

Case Laws Income Tax

November 16, 2022

Expenses as claimed u/s. 57(iii) - old dues not payable shown as Income from other sources - If the advance was taken from a Person who is now expired as per submissions made before the CIT(A) by the assessee, the assessee has not shown any measures taken by him as to whether in legal heirs of the said party are present to whom the dues can be repaid. Merely writing off the dues cannot allow the claim of the assessee. - Additions confirmed - AT

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Expenses as claimed u/s. 57(iii) - old dues not payable shown as ...

Case Laws Income Tax

November 16, 2022

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