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Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act - (07 Sep 2023)

DIRECT TAXATION

Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section 153A(1) of Income-Tax Act, 1961.

Tags : BOMBAY HIGH COURT   BAD DEBT   ASSET   INCOME-TAX ACT  

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