Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
Disallowance of bad debt written off - assessee knowing to fact that its business going to discontinue from immediate subsequent year deliberately written off good debtor as bad debt in the books to reduce the tax liability - If the assessee was to avail the benefit of the provisions of law by using the colorable device, the same cannot be allowed to the assessee. - AT
Disallowance of bad debt written off - assessee knowing to fact that its business going to discontinue from immediate subsequent year deliberately written off good debtor as bad debt in the books to reduce the tax liability - If the assessee was to avail the benefit of the provisions of law by using the colorable device, the same cannot be allowed to the assessee. - AT
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