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Non payment to supplier

This query is : Resolved 
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(Querist)
19 June 2013 I have purchased some assets in the year 2005 and capitalised in my books of account
but payment has not been made till now because of dispute
now i want to write off that amount in supplier
what accounting entry to be passed and what is tax implication
please help
Thanks in advance
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 June 2013 You can write off as showing other income
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