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2015 (1) TMI 297 - AT - Income TaxAllowability of claim of bad debts – Held that:- The AO noted that the bad debts claim allowed in the assessment order was much higher than those shown by the bank in NPA return furnished to RBI - The AO noted that the bad debts claim by the assessee were ₹ 86.68 crores while the bad debts shown in the NPA return filed with the RBI were of ₹ 16.91 crores - the CIT(A) has considered the reconciliation of the amounts shown in the NPA return with the RBI as well as annual accounts and return of income and found that the figure tallied with the amount in the audited P&L account and balance sheet – CIT(A) rightly found that there is no reference of the figure of ₹ 16.91 crores in the return - There is no evidence anywhere in the record from which it can be ascertained as to how the figure of ₹ 16.91 crores has been arrived at by the AO - Revenue has not pointed out any error in the facts recorded by the CIT(A) in the order – the order of the CIT(A) is upheld – Decided against revenue.
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