Capital Investment from Surplus Funds available out of Various Income Taxed under Different Heads without Precise Accounting: ITAT upholds Disallowance of Bad Debts [Read Order]

Capital- Investment - Surplus- Funds - Income -Taxed - Different- Heads - Precise -Accounting-ITAT - Disallowance - Bad- Debts-TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of bad debts as the capital investment from surplus funds was available out of various income taxed under different heads without precise accounting. The assessee,Ajay Kumar filed appeal stating that the Commissioner of Income Tax Appeals (CIT(A)) had erred in confirming the…

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