Sir,
During scrutiny assessment proceedings, our A.O. want to make addition of unrecoverable debtors of rs 10 Lakhs though we have not claimed them to be bad debts. Can he do so?
Menu
Assessment proceedings
Replies (1)
The Assessing Officer can add back only those expenses which have been debited in profit & loss account. In your case, you havent debited those debtors in profit & loss account i.e. you havent considered bad debts as an expenditure, so the same cannot be added back by assesing officer.
Recent Topics :
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
- On which amount 200% penalty under section 270A is
Related Topics :
CAclubindia
