{"id":45195,"date":"2024-08-16T07:44:03","date_gmt":"2024-08-16T02:14:03","guid":{"rendered":"https:\/\/itatonline.org\/digest\/alpha-reality-v-asst-cit-2023108-itr-7-snchennai-trib\/"},"modified":"2024-08-16T07:44:03","modified_gmt":"2024-08-16T02:14:03","slug":"alpha-reality-v-asst-cit-2023108-itr-7-snchennai-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/alpha-reality-v-asst-cit-2023108-itr-7-snchennai-trib\/","title":{"rendered":"Alpha Reality v. Asst. CIT (2023)108 ITR 7 (SN)(Chennai) (Trib)"},"content":{"rendered":"<p>Held that the assessee is not having any business income and in last balance-sheet not having any debtors. Advances given to land owners with whom transaction did not materialise is written off as bad debt. Tribunal held that mere write-off of\u00a0 advances for purchase of\u00a0 property would not fall under bad debts. Not allowable as deduction. \u00a0(AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(vii) : Bad debt-Advance to purchase of property-Mere write-off  of  advances for purchase of  property is not allowable as bad debt.  [S. 36(2)]   <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-45195","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bKX","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=45195"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45195\/revisions"}],"predecessor-version":[{"id":45196,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45195\/revisions\/45196"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=45195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=45195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=45195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}