TMI Blog2016 (12) TMI 171X X X X Extracts X X X X X X X X Extracts X X X X ..... n for bad and doubtful debts account, the authorities below have rightly disallowed the amount claimed as deduction by the assessee, inasmuch as the intention of the legislature was to see that deductions for bad debts in respect of the very same amount covered by clause (viia) of the Act is not again claimed under clause (vii) of the Act. With this view of the matter, we do not find any merits in the contention of the Ld. AR. Hence, we find that the orders of the authorities below do not warrant any interference and the same are hereby upheld. This ground of appeal of assessee is dismissed. - I.T.A No. 540/Kol/2013 - - - Dated:- 28-9-2016 - Shri P. M. Jagtap, AM And Shri K. Narasimha Chary, JM For the Appellant: Shri Sanjay Bhatta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion to the extent of ₹ 124,69,89,000/- in the Assessment Year 2004-05, the balance in the account of Provision for Doubtful Debts had been substantially reduced and thus he erred in holding that the Bad Debts Written Off would not exceed the balance in the account of Provision for Doubtful Debts. 4. At the time of hearing Ld. AR did not press ground no. 2 and hence, the same is dismissed being not pressed. 5. In respect of ground no. 1, it is the argument of the Ld. AR that the account referred to in proviso to section 36(1)(vii) of the Act is the account that had been made under clause (viia) of section 36(1) of the Act and not the account of the provision for bad and doubtful debts as appearing in the financial account. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Out of said provision the assessee has periodically writing of various amounts as follow: Bad debts written off disallowed: AY Amount 2003-04 70,15,873 2004-05 1,42,48,266 2005-06 8,20,27,924 2006-07 9,71,69,000 2007-08 2008-09 19,59,35,000 2009-10 51,95,96,000 After writing off the aforesaid amounts till 2009-10 to a tune of ₹ 91,59,92,063/- the unabsorbed portion still left with the assessee works to ₹ 35,22 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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