ITAT Raipur Quashed ₹17 Crore Addition as AO Misread Facts on Bad Debt Deduction

DCIT Vs Jila Sahakari Kendriya Bank Maryadit (ITAT Raipur) The appeal before the Income Tax Appellate Tribunal (ITAT), Raipur, was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals), NFAC, Delhi dated 21.10.2024 for Assessment Year 2014–15. The dispute arose from reassessment proceedings initiated under sections 147 and 144 of the Income Tax Act, 1961, wherein the Assessing Officer (AO) made multiple additions, including an addition of ₹17 crore on account of alleged double deduction of provision for bad and doubtful debts. The assessee, a co-operative socie...