BAD DEBTS ::
Last updated: 09 January 2008
Court :
HC
Brief :
Held by the Hon`ble Court that, unless the A.O. had rejected the entire books of accounts to be totally unreliable and finding extreme perversity in declaration of debts to be bad debts the stand of assessee cannot be ignored by the revenue. Therefore deduction allowed as bad debts is justified in law.
Citation :
C.I.T. Vs. Nai Dunia
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CA.Saibaburao Nanduri
Published in Income Tax
Views : 55
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