Advance for Bogus Purchases cannot be written off as bad debt

 ITAT CHENNAI BENCH ‘D’ Deputy Commissioner of Income-tax versus Vistas Wind Technology India (P.) Ltd. IT Appeal Nos. 927 & 928 (Mds.) of 2011 [ASSESSMENT YEARS 2005-06 & 2006-07] Date of Pronouncement- 31.01.2012 ORDER Abraham P. George, Accountant Member   These are appeals of the Revenue against orders dated 18.2.2011 of Commissioner of Income Tax (Appeals)-III, Chennai, for impugned assessment years. 2. Appeal for assessment year 2006-07 is taken up first for disposal. Revenue has raised five grounds of which, Ground Nos.1 and 5 are general needing...