"Any Expenditure" in Section 37 Includes Both Expenses and Losses, Even Without Actual Payment by Taxpayer.

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....The expression “any expenditure” used in section 37 is to cover both “expenses incurred”as well as an amount,which is really a “loss”,even though such amount has not gone out from the pocket of the assessee the advance written off by the assessee as irrecoverable is allowable as business loss - AT....