ITAT Mumbai Remands Bad Debt Disallowance for Fresh Verification U/s. 36(1)(vii)

DCIT Vs Ispat Infrastructure India Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, heard the appeal filed by the Deputy Commissioner of Income Tax (DCIT) against Ispat Infrastructure India Ltd. for the Assessment Year (AY) 2015-16, challenging the Commissioner of Income Tax (Appeals) [CIT(A)] order that had deleted multiple disallowances. The ITAT’s primary action was to restore three key issues back to the Jurisdictional Assessing Officer (AO) for fresh, de novo adjudication, while one ground of appeal was deemed inadvertently raised by the Revenue. Bad Debts Clai...