Write off of outstanding dues - Bad debts claimed u/s 36(1)(vii) ...

ITAT Denies Assessee's Attempt to Reclassify Bad Debts as Business Expenditure u/s 37(1); Additions Confirmed.

July 24, 2023

Case Laws Income Tax AT

Write off of outstanding dues - Bad debts claimed u/s 36(1)(vii) - Fresh claim before ITAT, in alternative, as business expenditure u/s 37(1) - The assessee at this stage cannot seek relief to allow the claim u/s 37 of the Act merely because some relief has been given by Ld. CIT(A) in regard to other addition. - Additions confirmed - AT

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Write off of outstanding dues - Bad debts claimed u/s 36(1)(vii) ...

ITAT Denies Assessee's Attempt to Reclassify Bad Debts as Business Expenditure u/s 37(1); Additions Confirmed.

July 24, 2023

Case Laws Income Tax AT

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