2009 (12) TMI 413

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..... .- The only question raised is whether the Tribunal was justified in confirming the order of the Commissioner of Income-tax (Appeals) allowing deduction of Rs. 6,74,261. 2. We have heard standing counsel appearing for the appellant and Sri P. Balakrishnan appearing for the respondent. 3. The assessee claimed deduction of Rs. 6,74,261 towards bad debt written off in the accounts. However, the As .....

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..... by the assessee as a deduction towards bad debts and if it is not proved, disallowance is the consequence because the amount cannot be claimed as a trading loss of the previous year as the transactions are of earlier year. In the circumstances, we are unable to sustain the order of the Tribunal confirming the order of the Commissioner of Income-tax (Appeals). However, we feel the assessee can be .....

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