https://www.taxtmi.com/highlights?id=68089 Bad debts u/s. 36(1)(vii) - business advances given to subsidiary company which has become irrecoverable - the loss on account of non-payment of advance of subsidiary was a business loss in the assessee’s line of business and the same is allowable as a business reduction to the assessee. - AT en-us Sat, 04 Feb 2023 08:42:52 +0530 Sat, 04 Feb 2023 08:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68089 Bad debts u/s. 36(1)(vii) - business advances given to subsidiary company which has become irrecoverable - the loss on account of non-payment of advance of subsidiary was a business loss in the assessee’s line of business and the same is allowable as a business reduction to the assessee. - AT Highlights Income Tax Sat, 04 Feb 2023 08:42:52 +0530 https://www.taxtmi.com/highlights?id=68089