Case Law Details
A perusal of the order of the learned Commissioner of Income-tax (Appeals) clearly shows that the assessee had written off bad debt in the books. Further, it is noticed that the Learned Commissioner of Income-tax (Appeals) had followed the decision of the Hon’ble Bombay High Court in the case of Director of Income-tax (International Taxation) Vs. Oman International Bank (refer to supra) on this issue. The finding of the learned Commissioner of Income-tax (Appeals) that the bad debt written off in the books has not been disputed by the revenue. In the circumstances, the finding of the learned Commissioner of Income tax (Appeals) on this issue is on right footing and does not call for any interference.
INCOME TAX APPELLATE TRIBUNAL, CALCUTTA
ITA No. 1421/Kol/2011 – Assessment Year: 2006-07
D.C.I.T.
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