The assessee has written off bad debts amounting to Rs.2,62,03,589 receivable from Government Telephone Departments and others by debiting the same to the Profit & Loss account. The Assessing Officer has himself allowed 75% thereof as admissible deduction. The Assessing Officer has failed to point out any material in support of his allegation that the bad debts have not been properly written off in the books though he himself has stated in the Assessment Order that “On perusal of the P & L A/c account it is noticed that the assessee has claimed bad debts written off amounting to Rs.2,62,03,589 during the year.” and he also found that from the list furnished by the assessee, it was seen that bad debts belong to Government Telephone Departments and others. It is clear that the issue involved in this appeal is fully covered by the decision of the Tribunal as
well as of Jurisdictional Delhi High Court in the assessee’s own case on similar set of facts of the case. We, therefore, delete the disallowance of bad debts amounting to Rs.65,50,897 and allow the ground raised by the
assessee.
Date of Order : 26/12/2011, To get the Complete Order Kindly contact Administrator.
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