Debt Written Off in Books of Account is to be Allowed as Bad Debts: ITAT directs AO to delete Addition of Rs. 6.69 crore [Read Order]

The debt written off by the assessee in the books of account is to be allowed as bad debts
ITAT - Debt - Debt Written Off - Bad Debts - AO to delete Addition - ITAT chennai - taxscan

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 6.69 crore after ruling that debt written off in the books of accounts should be allowed as bad debts. The appellant Shri. Moolchand Kiran Kumar Jain was a proprietor…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader