Case Law Details
Maharashtra Film Stage and Cultural Development Corporation Ltd. Vs ACIT (ITAT Mumbai)
The assessee had written off the bad debt as per the Board Resolution dt.5.6.2009 after the closing of books of accounts. The Assessing Officer had disallowed the claim on the ground that books of accounts were closed on 31.3.2009 whereas bad debts were written off as per Board Resolution dt.5.6.2009. The ld. CIT(A) had dismissed the appeal of the assessee stating that decision of writing off of bad debts was taken much later on after closing of books of accounts. During the course of appellate proceedings before us the assessee had neither made any compliance nor furnished any material to disprove the findings of the authorities below, therefore we do not find any error in the decision of ld. CIT(A). Accordingly, this ground of appeal of the assessee stands dismissed.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
This appeal is filed by the assessee against the order of Commissioner of Income Tax (Appeals)-3, Mumbai Dt.26.12.2011 for the Assessment Year 2009-10.
2. This case was listed for hearing for a number of times. The same was adjourned because of seeking frequent adjournments by the assessee or because of not attending on behalf of assessee. Therefore the appeal of the assessee is decided after hearing the learned Department Representative and taking into consideration the material placed on record.
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