TMI Blog2014 (2) TMI 565X X X X Extracts X X X X X X X X Extracts X X X X ..... ontrovert that the debt was written off as bad debts – the order of the CIT(A) upheld – Decided against Revenue. - Tax Appeal No. 802 of 2013 - - - Dated:- 27-1-2014 - Akil Kureshi And Sonia Gokani,JJ. For the Appellant : Mr. K. M. Parikh, Adv. For the Respondent : Mr. Manish J. Shah, Adv. ORDER (Per : Honourable Mr. Justice Akil Kureshi) Revenue is in appeal against the order dated 15th February 2013 passed by the Income Tax Appellate Tribunal, Ahmedabad [ Tribunal for short]. Following questions have been raised for our consideration : [A] Whether on the facts and in the circumstances of the case and in law, the Tribunal has erred in law in allowing the bad debts claim of Rs. 1,27,54,092/- holding that the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtment approached the Tribunal. The Tribunal, in the first round, allowed the Revenue s appeal in part on this issue under a detailed order dated 2nd March 2012. The Tribunal observed, thus 14. We have heard both the parties and considered the submissions and also perused the orders of the authorities below. We find that during the financial year 200304, the assessee received an amount of Rs. 75 lakhs from GCPTCL and the assessee written off an amount of Rs. 1,07,67,742/- as on 31/3/2004 leaving a closing balance of Rs. 25 lakhs. It can be noticed from the details submitted by the assessee that the assessee is having a good relation with the GCPTCL in subsequent year after the above payment and the write off are alleged bad debts . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted complete particulars with respect to its claim of bad debts u/s. 36[1](vii). We further find that CIT [A] has not doubted the decision of the assessee to write off the bad debts. Considering the submissions of the assessee, CIT [A] has allowed the claim of the assessee in writing off the debt as bad debts. Before us, nothing has been brought on record by the Revenue to controvert the findings of CIT [A]. We further find that in the case of TRF Limited v. CIT [2010] 323 ITR 397 (SC), the Hon ble Apex Court has held as under : After April 1, 1989, it is not necessary for the assessee to establish that the debts, in fact has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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