Treatment of bad advance given to suppleir
This query is : Resolved
Ca Aashish Upadhyay
(Querist)
19 March 2015
dear members kindly let me know in which section the bad advance given to supplier will be written off
gbalakrishnan
(Expert)
20 March 2015
Always advances face all risks. when advances not properly accounted by a man taking advance such advance is indeed a bad advance.
if the AO issues a notice that only gives a clue how AO treats is known that way you can handle the concerned AO as all AOs do not follow same path, is it not .. so handle them exclusively.
if the AO issues a notice that only gives a clue how AO treats is known that way you can handle the concerned AO as all AOs do not follow same path, is it not .. so handle them exclusively.
Soumitra Basu
(Expert)
20 March 2015
IT WILL BE ALLOWED UNDER SECTION 37(1) OF THE INCOME TAX ACT.
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