Tag: business loss u/s 37(1)

Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss though not admissible as bad debts written off u/s s 36(1)(vii) – ITAT

Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss though not admissible as bad debts written off u/s s 36(1)(vii) – ITAT ABCAUS Case Law Citation: 973 2016 (07) ITAT Assessment Year: 2010-11 Date/Month of Judgment: July 2016 Brief Facts of the Case: The assessee firm was engaged in …