Bad debt deduction
Querist : Anonymous
Can we claim bad debt deduction if our party to which we sold some item on credit not paid the money from last three year?
Please give me any referance for this
Querist : Anonymous
"the amount of any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year"
Querist : Anonymous
Section 36(1)(vii) and T.R.F Ltd Vs. CIT 190 Taxman 391 (SC) may be referred.
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