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2021 (2) TMI 1028 - AT - Income TaxRevision u/s 263 - assessee has claimed deduction on account of bad debts in spite of having credit balance in BDDR account - Pr. Commissioner of Income Tax further opined that the order of assessment passed u/s.143(3) dated 13.12.2016 was erroneous in so far as it was prejudicial to the interest of the revenue because assessment has been made without verification of the claim of written off bad debts as deduction.- Whether any verification or examination was done by the Assessing Officer or not with respect to the bad debts? - HELD THAT:- As already examined that such verification and examination on bad debts was not done by the Assessing Officer. The Assessing Officer has not called for any specific details regarding bad debts. He has also not called for or verified list of bad debts. The Assessing Officer has also not analyzed the Board Circular & Instruction vis-à-vis facts of the assessee’ case and therefore, the assessment order is erroneous and prejudicial to the interest of the revenue. We are of the considered view that the Ld. Pr. Commissioner of Income Tax was correct in assuming revisionary jurisdiction and passing order u/s.263 of the Act since the order of the Assessing Officer dated 13.12.2016 was erroneous so far as it is prejudicial to the interest of the Revenue. - Decided against assessee.
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