2008 (8) TMI 784

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enging the concurrent findings of the Commissioner of Income-tax (Appeals) and the order passed by the Income-tax Appellate Tribunal in I. T. A. No. 314/ Bang/99 dated July 8, 2003, along with cross-objection No. 27/Bang/99 filed by the assessee for the assessment year 1995-96. The facts of this case are as hereunder : The assessee filed a return of income on October 31, 1995, declaring the inco .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ted the claim of the assessee to treat a sum of Rs. 16,05,363 as bad debts. Against the same, the Department filed an appeal before the Income-tax Appellate Tribunal and for not considering the relief of bad debt, the assessee filed cross-objections. Both the cases were taken up together by the Tribunal and the Tribunal rejected the appeal of the Revenue and allowed the cross-objection and granted .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 2003] 262 ITR 567 (SC). Since the same has not been considered, we are of the opinion that the matter has to be remitted back to the Assessing Officer to consider the same. With regard to question No. 2 is concerned, according to us, it is the Assessing Officer who has to examine whether there is really a bad debt and the same is written off. It is a question of fact and has to be assessed by the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X