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Loan & advance dr balancew written off

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 August 2014 A company wants to write off its Loan & advance Dr balance. This is Amount is the the Temporary Loan given to Other company & related Party .
Now due to Settlement company wants to write off from books.

Please suggest it is allowable under Income Tax Act?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 August 2014 why would you get deduction for writing off a loan?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 September 2014 only exp are allowed is this an exp?
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