TMI Blog1989 (1) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Act, 1961, for directing the Tribunal to draw up a statement of case and refer the following question of law for the opinion of this court: "Whether the Tribunal was correct in law in allowing deduction on account of bad debt (Rs. 41,006) in view of the condition laid down in section 36(2)(i) (a) having not been fulfilled in the present case?" New Janta Transport Co. was the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant Commissioner wrote off the amount as a bad debt. The Income-tax Appellate Tribunal noticed that in the beginning of the year, the assessee had considered the amount good because filing of a suit was contemplated. However, after receipt of the legal opinion, the idea of filing a suit was given up. Further, even though legal opinion was dated April 10, 1972, since the company's books for the y ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
