TMI Blog2017 (2) TMI 1010X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as a deduction, could not be taxed when written back. Therefore, the assessee has rightly reduced the said amount in its computation of income. The CIT(A) has passed the order in view of the above mentioned case. No contrary law of any kind was produced before us to distinguish the facts of the case on record. In view of the said circumstances, we are of the view that the CIT(A) has passed the order judiciously and correctly which is not require to be interfere with at this appellate stage. - Decided against revenue - I.T.A. No. 2095/Mum/2015 - - - Dated:- 15-2-2017 - Shri D. Karunakara Rao, AM And Shri Amarjit Singh, JM Revenue by : Shri Girish M. Balekundri Assessee by : Shri S.S.Kemwal (CIT-DR) ORDER Per Amarjit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... again claimed in the computation of income at ₹ 17,41,56,007/- Credit for BDDR not considered for Tax . The Assessing Officer was of the view that the assessee did not written off the bad debts in the P L A/c. Infact the assessee debited the P L A/c. Bad Debts Written Off of ₹ 17,41,56,007/-, the same was reversed and credited to the P L A/c. as Bad Debt Provision Reserve to the extent of ₹ 17,41,56,007/-. The fact was considered as nullified since the Bad Debts were not debited in the P L A/c., therefore, the claim was not allowable. Feeling aggrieved, the assessee filed an appeal before the CIT(A) and the CIT(A) allowed the said claim, therefore, the revenue filed the present appeal before us. ISSUE NO.1:- 4. Unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... off. (c) Accounts of 1186 parties has been debited on account of the write off. 5. On appraisal of the above mentioned finding of the CIT(A), it is not in dispute that the assessee company is cooperative bank and till A.Y.2007-08, the assessee company was not eligible for deduction u/s.36(1)(viia) of the Act. However, the assessee company was creating the provision of bad debts by debiting the P L A/c. in accordance with RBI guidelines. The assessee while filing the return added back the said amount to the gross total income. In the present assessment year the assessee claimed a sum of ₹ 17,41,56,007/- as bad debt return of u/s.36(1)(vi) of the Act. The CIT(A) also considered the entries of the accounts which is also hereb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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