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Staff loan written off

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 February 2013 Hi,

A client has written off a loan given to staff as "Sundry Balance Written off" 2 years after the staff left the service.

AO says not allowable as sundry balance written off.

Any case laws on the same to claim the same as business expenditure.

Thanks in advance
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 August 2013 Bad debt not related to business will not be allowed

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