Are Trade Advances and Loans & Advances are treated as same .....???
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Trade advances
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Trade adcances means the advances you have taken/given to the debtors & creditors of your business. wereas loans & advances are those whihc you have taken from any bank, FI or you have given to someone.
| Originally posted by : madinashabana11 | ||
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Are Trade Advances and Loans & Advances are treated as same .....??? |
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“Trade Advances” are not “Loans & Advances”
CIT vs. Arvind Kumar Jain (Delhi High Court)
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