Deduction u/s 115JB shall be allowed when Farmer and Trade Advances are actually Written off in Books of Account: ITAT [Read Order]

Deduction - Farmer - Farmer and Trade - Farmer and Trade Advances - Written off - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction under Section 115JB of the Income Tax Act, 1961 shall be allowed when the farmer and trade advances are actually written off in the books of accounts. The assessee is a resident corporate entity. Assessment in the case of the assessee…

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