Taxpayer Can Write Off Bad Debts Post-Financial Year If Subsequent Events Clarify Financial Position by 31.03.2008.

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....Validity of writing off bad-debts after the end of financial year - In the case evidence is post 31.13.2008, the assessee's claim would be valid only where the event/s enables assessment of the position as obtaining on 31.03.2008, and not otherwise. - AT....