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TMI Blog2015 (2) TMI 1073X X X X Extracts X X X X X X X X Extracts X X X X ..... off. 3. Briefly stated, the facts of the case are that the assessee, during the course of assessment proceedings, made out a claim, vide letter dated 23.12.2008 that deduction for bad debts written off amounting to Rs. 1,84,40,253/- be allowed. The AO rejected such claim on the premise that such a new claim could have been made only by means of the revised return within the time permissible u/s 139(5). Since such time had elapsed, the AO refused to grant any such deduction. The ld. CIT(A) accepted the assessee's claim and granted deduction. 4. We have heard the rival submissions and perused the relevant material on record. At the outset, we do not find any difficulty in the ld. first appellate authority taking up claim of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the year can be allowed as deduction provided such debt or part thereof was taken into account in computing the income of the assessee for this year or an earlier year. Unless such debt is taken into consideration in the computation of total income, there can be no question of allowing deduction on its becoming irrecoverable or on a mere write off. As necessary facts of this issue are not available and the ld. CIT(A) has simply accepted the assessee's claim without going into the deductibility of this amount as per law in terms of above discussion, we set aside the impugned order and remit the matter to the file of AO for deciding this issue afresh in conformity with our above observations. Needless to say, the assessee will extend full ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue and remit the matter to the file of AO for a fresh determination of the same as per law, after allowing a reasonable opportunity of being heard to the assessee. 9. In the result, the appeal is allowed for statistical purposes. Assessment Year 2008-09 10. The only issue raised in this appeal is against the deletion of addition of Rs. 10,69,25,323/- on account of bad debts written off. 11. Briefly stated, the facts of this ground are that the assessee claimed deduction for Rs. 10.69 crore by mentioning that 'such bad debts were earlier disallowed and now claimed as deduction on write off'. The AO sought certain details as to when the bad debt were written off; when and how these were disallowed earlier; circumstances under which ..... X X X X Extracts X X X X X X X X Extracts X X X X
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