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2019 (1) TMI 1363 - HC - Income TaxAddition on account of bad debts - AO disallowed on the ground that the bad debt figure had not been finally crystallized as there were claims and counterclaims between the parties and the Arbitration Proceedings were pending - CIT(A) on facts found that the amount has been crystallized as there was no counterclaim filed by the parties concerned and the Arbitration Award has also been passed. Thus, allowed the appeal also confirmed by tribunal - Held that:- On facts the impugned order of the Tribunal found that letters were addressed by the parties admitting their liabilities with a request for settlement. Thus, there was no issue of counterclaim. Further, it also found the dispute a facts had settled in Arbitration and the respondent had received some amount in terms of Award. It was only the remaining amount of ₹ 12.58 crores which has been allowed as bad debt. Thus, dismissed the Revenue's appeal. We find that both the CIT (A) and the Tribunal have rendered a concurrent finding of fact holding that the amounts written off as bad debts had been crystallized. This finding of fact has not been perverse in any manner. In the above view, the question as proposed does not give rise to any substantial question of law.
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