Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss
July 15, 2016
Income Tax, 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) ITATAssessment Year: 2010-11Date/Month of Judgment: July 2016 Brief Facts of the Case:The assessee firm was engaged in rendering legal services including …