https://www.taxtmi.com/highlights?id=66045 Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature of loss is booked in books of accounts under specific head. But in IT Return the area of declaration is specific which was compelled the assessee to mention the business loss in bad & doubtful coloumn. But the nature of loss cannot be changed which is supported by basic evidence, books of accounts. - Claim allowed - AT en-us Fri, 14 Oct 2022 15:00:15 +0530 Fri, 14 Oct 2022 15:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66045 Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature of loss is booked in books of accounts under specific head. But in IT Return the area of declaration is specific which was compelled the assessee to mention the business loss in bad & doubtful coloumn. But the nature of loss cannot be changed which is supported by basic evidence, books of accounts. - Claim allowed - AT Highlights Income Tax Fri, 14 Oct 2022 15:00:15 +0530 https://www.taxtmi.com/highlights?id=66045