[aaykarbhavan] No reassessment to deny provision for doubtful-debts as application of income if it was disclosed in assessment

No reassessment to deny provision for doubtful-debts as application of income if it was disclosed in assessment

October 20, 2014[2014] 49 taxmann.com 262 (Bombay)/[2014] 365 ITR 160 (Bombay)

IT : Where in income and expenditure account, stock exchange had already reflected 'provision for doubtful accounts', reassessment after four years could not be made holding that same could not be treated as application income under section 11

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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