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2012 (8) TMI 642 - AT - Income TaxDisallowance on account of bad debts - undisclosed income - Held that:- Assessee not writing off of any bad debt in the accounts for any previous year and on the basis of the seized material and records quantum of undisclosed income was determined and according to the reply of assessee, the assessee made a claim of bad debt as per the accounts prepared on the basis of the seized material. Therefore, the same could not be treated that the assessee has written off the bad debt as irrecoverable in the accounts maintained for - plea of the assessee was not accepted because the seized documents found during the course of search could not be treated as regular books of account and on the basis of the seized material, cash book and ledger was prepared to find out the quantum of undisclosed income, thus whatever books of account maintained by the assessee in the regular course of business did not have mention of any loan and advance - against assessee.
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