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2013 (7) TMI 1043 - ITAT MUMBAI

2013 (7) TMI 1043 - ITAT MUMBAI - TMI - ITA No. 7026/Mum/2011 - Dated:- 10-7-2013 - SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER Assessee by : Shri D.V. lakhani Revenue by : Shri Surinder Jit Singh O R D E R PER B. RAMAKOTAIAH, AM: This is a Revenue appeal against the order of CIT(A)-38, Mumbai dated 1.7.2011. We have heard the ld. DR and the ld. Counsel. 2. Ground No.1 : The revenue has raised the following ground 1. On the facts and in the circumstances of the c .....

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ason that the assessee is earning only brokerage income and principal amount of claints can not be allowed as bad debts. Following the decision of ITAT Special Bench in the case of Shreyas Morkhia (42 DTR 320) the ld. CIT(A) allowed the amount. The revenue is aggrieved. 2.2 This issue is now crystallized by the decision of Hon'ble Bombay High Court in the assessee s own case in assessment year 2006-07 in ITA No.2231 of 2011 where the Hon'ble High Court upheld the order of the ITAT on the .....

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