Wednesday, February 18, 2015

[aaykarbhavan] Writing off bad debt and reducing it from debtor’s account is enough to claim deduction: HC



 

Writing off bad debt and reducing it from debtor's account is enough to claim deduction: HC

February 18, 2015[2015] 54 taxmann.com 28 (Gujarat)
IT: Once amount of bad debt is debited to profit and loss account and simultaneously reduced from asset side, same is to be allowed; it was not necessary for assessee to close individual account of each of its debtors in its books
Regards
Prarthana Jalan


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


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