Whether assessee consequent upon a scheme of demerger eligible for writing of bad debts related to earlier years before the take over from holding company?

Whether assessee consequent upon a scheme of demerger eligible for writing of bad debts related to earlier years before the take over from holding company? The assessee company consequent upon a scheme of demerger as per the provisions of The Companies Act took over entire business (web portal) owned by the holding company. The assessee has written off the bad debts related to the previous years before the takeover of the business from the holding company. Appellate Tribunal confirmed the decision of CIT (A) by relying on the case supra which stated that when the original owner is entitled to ...