This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Deduction u/s. 37 for written-off of non-recoverable advances to employee allowed: ITAT Ahmedabad
Case Law Details
- Case Name
- Siwana Agri Marketing Ltd. Vs ACIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Siwana Agri Marketing Ltd. Vs ACIT (ITAT Ahmedabad)
ITAT Ahmedabad held that amount written-off towards non-recoverable advances given to employees which are incidental to business operations qualifies as deductible business expenses under section 37 of the Income Tax Act.
Facts- The case of the assessee was selected for scrutiny under the Computer Assisted Scrutiny Selection (CASS) and the AO completed the assessment u/s. 143(3) of the Act on 27-11-2019, determining total income at Rs.97,85,762/-. AO disallowed Rs.65,86,200/- u/s. 36(1)(iii) of the Act, observing that the ass...
Author Info
