Advances written off not allowable unless the same were for the purpose of business

ITAT AHMEDABAD BENCH ‘D’ Mitsu Ltd. versus Assistant Commissioner of Income-tax IT Appeal Nos. 3088 & 3119 (Ahd.) of 2003 [ASSESSMENT YEAR 2000-01] Date of Pronouncement- 23.01.2013 ORDER Mukul Kr. Shrawat, Judicial Member These cross-appeals have been filed against the order of the ld. CIT(A)-I Surat, dated 23/04/2003. These appeals are consolidated and hereby decided by this common order. [A] Assessee’s appeal, ITA No.3088/Ahd/2003 – A.Y. 2000-01 2. Ground Nos.1 to 4 read as under:- 1. The order of assessment is contrary to the facts and prejudi...