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2017 (2) TMI 343 - AT - Income TaxDisallowance u/s 36(i)(iv) on account of bed debts - Held that:- In the instant case, the assessee, on one hand, is claiming that the debt of the said party has been written off in its books of accounts, however, the Assessing Officer has stated that the said party was appearing as debtor in the balance sheet as on 31/3/2008. Thus, in the case, it needs verification whether the debt in question was written off in the year under consideration. In view of the above, we feel it appropriate to restore the matter to the file of the Assessing Officer, who is directed to ascertain from the books of accounts of the assessee, whether the bad debt in question has been written off by the assessee in its accounts for the year under consideration and then decide the issue in dispute in accordance with law. The assessee shall be afforded sufficient opportunity of hearing. Accordingly, the ground of the appeal is allowed for statistical purpose.
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