bad debts

This query is : Resolved

paresh zatakia (Querist)
Follow

02 April 2009 Dear Sir,
A ltd sold goods to B ltd for 20 lacs.at the time of delivery prices went down as such B LTD refused to accept the goods.A ltd sold it to C LTD 6 lacs.matter is in arbitration for 14 lacs. querry 1) Can A ltd write off 14 lacs as BAD DEBTS? 2) IF ltd wrtes it off as bad debts ,is is not likely that arbitration will reject the claim saying since u have triten off the amount u can not get claim. c.a.paresh zatakia

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

02 April 2009 can u pls tell y the arbitrator is appointed...

and i suppose u need to record sales at 6 lacs.... so there is no question of writing off bad debts...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

T E SOUNDARARAJAN

HITESH NIRANJAN SAHU

Ishwar Radhakisan Tawani

RAJ SANKLECHA

Aakash Kumar

Subscribe Now

bad debts

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

CA Final

GST CONSULTANCY

Manager- Finance and Compliance

Senior Executive