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TMI Blog2011 (12) TMI 379X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent. JUDGMENT C.N. Ramachandran Nair, J. - This is an appeal filed under Section 260A of the Income-tax Act against the Single Bench order of the Tribunal declining to interfere with the order issued by the Commissioner under Section 263 of the Income-tax Act directing revision of assessment for the purpose of withdrawing claim of bad debt allowed in the original assessment under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is order of the Commissioner assessee filed appeal before the Tribunal., The Tribunal through a detailed order held that the assessee had neither written off the debt by debiting the Profit and Loss Account nor is there anything to indicate that the debts had become irrecoverable which were still shown as payable by the debtors in the accounts of the assessee. What is clear from the finding of all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amended provisions after 1st April, 1989, the assessee need not prove debt as irrecoverable or bad, but it is enough the assessee writes off the debt. Section 36(l)(vii) provides for write off of bad debt that has become irrecoverable. In our view, the qualifying terms of debt, both bad and doubtful have got definite meaning and content, the scope of which is not considered in the above decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oss Account. On the other hand the finding of the lower authorities including the Commissioner is that the amounts claimed as bad debt are still shown in the accounts of the debtors and so much so, the appellant-assessee has not written off bad debt entitling him to claim deduction. 4. Assessee's counsel contended before us that/writing off of bad debt in the Profit and Loss Account is not a mand ..... X X X X Extracts X X X X X X X X Extracts X X X X
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