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…

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