TMI Blog2016 (1) TMI 229X X X X Extracts X X X X X X X X Extracts X X X X ..... penditure as the same was in the course of the business of the assessee. Learned counsel for the appellant was unable to show any illegality or perversity in the findings recorded by the Tribunal warranting interference by this Court. - Decided against revenue - ITA No.614 of 2009 (O&M) - - - Dated:- 17-9-2015 - MR. AJAY KUMAR MITTAL AND MR. RAMENDRA JAIN, JJ. For The Appellant : Mr. Tejin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt, the amount was simply an advance and not a debt? 2. A few facts relevant for the decision of the controversy involved as narrated in the appeal may be noticed. The assessee company filed its return on 30.11.1996 declaring a loss of ₹ 30,31,03,210/- which was revised to ₹ 22,17,81,730/- vide revised return filed on 3.3.1998. The assessment under section 143(3) of the Act was comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2659/Del/205 before the Tribunal. The Tribunal reversed the order of the CIT(A) on this issue vide order dated 27.3.2009, Annexure IV. Hence the instant appeal by the revenue. 3. We have heard learned counsel for the parties. 4. The CIT(A) confirmed the addition of Rs. ₹ 2,18,213/- made by the Assessing Officer in respect of M/s Chemicals of India observing that it was not a debt recov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt had become bad and the same had been written off. In reply, learned DR submitted that the amount was not a bad debt, but was infact the advance made for the purchase of the material. It was his submission that the same was rightly upheld by the CIT(A). 40. We have considered the rival submissions. It is undisputed that the amount of ₹ 2,18,213/- was the advance made to M/s Chemicals o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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