assessee as a foreman in the
place of a defaulting subscriber is deductible as bad debt under
S.37(1) or as a business loss ... assessee- company
entering into the shoes of defaulting subscribers or in some
cases to fill up vacant chits as a matter of necessity or
expediency
assessee- company entering into the shoes of
defaulting subscribers or in some cases to fill up
vacant chits as a matter of necessity or
expediency ... assessee
as a foreman in the place of a defaulted subscriber as
bad debt u/s. 36(1)(vii) or as a business loss
Chit Funds Act, 1982 or it entered into the shoes of
defaulting subscribers or in some cases to fill up vacant
chits as a matter ... assessee as
a foreman in the place of a defaulting subscriber is
deductible as bad debt under 5.37(1) or as a business
loss under
that the assessee has written off as bad
debt when prized subscribers defaulted for four consecutive months
does not to our mind affect him claim ... that from out of the amount that is payable to the
defaulting subscriber consequent to his replacement by another person
the company is entitled
that from out of the amount that Is payable
to the defaulting subscriber consequent to his replacement by
another person the company Is entitled ... cases are different.
The further commission of 5% receivable from a defaulting
subscriber consequent to his removal and substitution on a
full and final settlement
that the foreman has to step into the
shoes of the defaulting subscribers and that in the chit fund
business, the principal risk undertaken ... assessee- company
entering into the shoes of defaulting subscribers or
in some cases to fill up vacant chits as a matter
that from out
of the amount that Is payable to the defaulting subscriber consequent to his
replacement by another person the company Is entitled ... cases are different. The further commission of 5% receivable from a
defaulting subscriber consequent to his removal and substitution on a full
and final settlement
Andhra Pradesh Chit Funds Act). In case of default by a subscriber ... foreman has the right to remove the name of the defaulting subscriber and substitute any person in his place and realise all arrears of subscriptions
assessee-company entering into the shoes of defaulting subscribers or in some cases to fill up vacant chits as a matter of necessity or expediency ... condition that he shall subscribe to a ticket in the unit:
Provided that in a case where the Foreman has subscribed to more than
that
from out of the amount that is payable to the defaulting subscriber
consequent to his replacement by another person the company is entitled ... cases are different. The further commission of 5% receivable from a
defaulting subscriber consequent to his removal and subscriber account is
recognized as income
