bad debts
This query is : Resolved
sohini agarwal
(Querist)
08 July 2009
A person wrote bad debts in profit & loss account,which has been disallowed by the assessing officer. The action of assessing officer is legally correct? Give answer with coding case laws.
chetan soni
(Expert)
08 July 2009
reply done.
Ratan Sharma
(Expert)
08 July 2009
Hi,
It is suffice if you write off the account of such defaulter in the books of accounts otherwise the deduction will not be allowed. If you have written off the account in your books of account then A.O. is legally bound to allow the deduction. The action of the AO in such case is illegal & will not stand in appeal
It is suffice if you write off the account of such defaulter in the books of accounts otherwise the deduction will not be allowed. If you have written off the account in your books of account then A.O. is legally bound to allow the deduction. The action of the AO in such case is illegal & will not stand in appeal
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
