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Treatment of bad advance given to suppleir

This query is : Resolved 

19 March 2015 dear members kindly let me know in which section the bad advance given to supplier will be written off

20 March 2015 Always advances face all risks. when advances not properly accounted by a man taking advance such advance is indeed a bad advance.

if the AO issues a notice that only gives a clue how AO treats is known that way you can handle the concerned AO as all AOs do not follow same path, is it not .. so handle them exclusively.

20 March 2015 IT WILL BE ALLOWED UNDER SECTION 37(1) OF THE INCOME TAX ACT.




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