Insurance Claim Receivable has been written off in the current year. Would this be allowed as a deduction?? Are there any case laws to support the same??
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Insurance claim receivable written off
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If really such insurance claim is irrecoverable now
you have made your every efforts to recover the same.
you have not claim such exp. in the year when such loss occured
and you have documentation of efforts you have made with you
than only this exp. will be allowable other wise not
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