Revision u/s 263 - reduction from provision created for bad and ...

Case Laws Income Tax

February 25, 2023

Revision u/s 263 - reduction from provision created for bad and doubtful debts for rural advances - real income theory - This provision for bad and doubtful debts relating to the rural advance, having been allowed as claim for deduction in earlier years, any write back from the same, logically needed to be subjected to tax, since clearly the claim allowed in earlier years was excessive to the extent of the write back done by the assessee. - AT

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Revision u/s 263 - reduction from provision created for bad and ...

Case Laws Income Tax

February 25, 2023

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