THE JAMMU AND KASHMIR KHADI AND VILLAGE INDUSTRIES BOARD ACT, 1965
Section 38. Power to write off losses.
The Board shall be competent to write off losses up to rupees five hundred in individual cases and not exceeding rupees five thousand in the aggregate in any financial year in cases falling under any or all of the following categories :––
(a) loss of irrecoverable value of stores or of public money due to theft, fraud or such other causes ;
(b) loss of irrecoverable advance other than loans ; and
(c) deficiency and depreciation in the value of stores.
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