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2016 (10) TMI 93 - GUJARAT HIGH COURT

2016 (10) TMI 93 - GUJARAT HIGH COURT - TMI - Disallowance of bad debt claimed by the assessee - establishment of debt - Held that:- Considering the decision of the Apex Court in the case of T.R.F. Ltd. (2010 (2) TMI 211 - SUPREME COURT ), the question, which is raised in the present appeal is required to be answered in favour of the assessee. The Tribunal has erred in reversing the decision of the CIT(A). After the amendment of Section 36(1)(vii) of the Income-tax Act, 1961 with effect from Apr .....

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pellant Mrs Mauna M Bhatt, Advocate for the Opponent JUDGMENT ( Per : Honourable Mr. Justice KS Jhaveri ) 1. Being aggrieved and dissatisfied with the impugned order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench B (hereinafter referred to as the Tribunal ) dated 13.07.2007 in ITA No. 758/Ahd/2007, the assessee has preferred the present appeal. 1.1 The following substantial question of law was raised while admitting the appeal on 14.07.2008: Whether on the facts and in the circumst .....

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t appear to have made enough efforts to recover the amount. On appeal, the CIT (Appeals) allowed the appeal and directed to delete the disallowance. 3. On appeal before the Tribunal by the revenue, by impugned order, Tribunal allowed the appeal and reversed the findings of CIT(A). Being aggrieved and dissatisfied with the impugned order passed by the Tribunal, the assessee has preferred the present Tax Appeal for consideration of the aforesaid substantial question of law. 4. Mr. Raju Kothari, le .....

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