Court held that there was no proper analysis of nature of advances which were sought to be written off, therefore, matter was to be remanded back to Assessing Officer for deciding as to whether there was actual irrecoverability of advances which assessee chose to write off in its account and claimed write off amount as business loss .(AY. 2004-05)
PCIT v. Linde India Ltd. (2018) 254 Taxman 204/ 302 CTR 262 (Cal.)(HC)
S. 28(i) : Business loss -Advance written off- Matter was remanded back to Assessing Officer for deciding as to whether there was actual irrecoverability of advances which assessee chose to write off in its account and claimed write off amount as business loss