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Direct Taxation
Plz explain provision for this adjustment in point 2 for bad debts
Answers (2)
Bad debts recovered which was allowed as deduction will be deemed to be the income In this case 300,000 was received a)Difference between the debt and b)amt allowed previously as deduction will be deemed as income u/s 41(4) a-b = 400000-250000= 150000 is deemed to be income
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