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2013 (1) TMI 44 - JHARKHAND HIGH COURTLoss on written down value of fixed assets - assets got vested in Nigerian company due to certain restrictions imposed by the Government of Nigeria - a capital loss or trading loss? - Held that:- The impugned order passed by the Tribunal allowing the claim of bad debt does not speaks about the core issue that how there exists an element of bad debt in whole of the transaction. Tribunal has not decided as to for what reasons, the reasons given by the appellate authority ware found to be wrong and virtually it is a nonspeaking order, deciding nothing. This appeal is allowed on this ground as Tribunal has not applied its mind to the question referred which should be answered by the Tribunal. Therefore the matter is remanded to the Tribunal back to decide the appeal in accordance with law after considering the reasons given by the appellate authority as well as submissions made by both the parties by giving reasons.
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