Loans credit vs debit book adjustment allowed in it act

kollipara sundaraiah (B.com) (2957 Points)

21 September 2023  
it assessess cash loan for debtors and creditors outstanding ledger balance as on dt:31-03-23 as per account records
cash loan from creditor rs:10 lacs
cash loan to debtor rs:15 lacs

assessess f.y.23-24 creditor ledger balance transfer to debtor ledger adjustment entry passed in books .
question:
above mentioned adjustment entry transaction allowed in it act