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2023 (10) TMI 1283 - HC - Income TaxDeduction qua bad debts acquired from predecessor-in-interest on acquisition of its commercial vehicle division in a scheme of demerger - whether the successor-in-interest i.e., the respondent/assessee, could have written off the debts which were already turned bad? - HELD THAT:- According to us, this issue is no longer res integra, given the factual matrix arising in the instant matter and in view of the judgment T. Veerabhadra Rao [1985 (7) TMI 2 - SUPREME COURT]. This view has also found resonance with a judgment rendered in CIT v. Times Business Solution Ltd [2013 (4) TMI 370 - DELHI HIGH COURT]. Having regard to the factual position and the legal principles enunciated in the judgments referred to hereinabove, we are of the opinion that no interference is called for with the impugned order. Disallowance concerning bad debts was correctly deleted - no substantial question of law.
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