Case Law Details
Case Name : PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
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PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court)
Conclusion: Assessee was not entitled to claim deduction of bad debt as the case did not satisfy the ingredients of both Section 36(1)(vii) and Section 36(2) and also advance written off was not allowable as business expenditure u/s 37(1).
Held: Assessee carried on real estate development business, trading in transferable development rights (TDR) and finance. Assessee contended that an amount of ₹ 10 crores was dep
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