The Income Tax Appellate Tribunal (ITAT), while allowing the benefit of deduction to the assessee on account of bad debts has held that the deduction is allowable if the sum written off as bad debts were already included as income of the assessee in the earlier previous years. The assessee, M/s Xalted Information Systems Pvt. […]
The post Deduction allowable If Sum written off as Bad Debts offered to Tax Earlier: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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