Bad debt – Amount receivable by a share broker from his clients against purchase of shares when not recovered can be allowed as bad debt

DECIDED BY: ITAT MUMBAI BENCHES `B’, SPECIAL BENCH , IN THE CASE OF: DCIT Vs. Shreyas S. Morakhia, APPEAL NO: ITA No. 3374/Mum/2004, DECIDED ON July 16, 2010

ORDER

PER P.M. JAGTAP, AM.

This Special Bench has been constituted u/s 255(3) of the Income Tax Act, 1961 to decide the following question which is arising out of the present appeal:-

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