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TMI Blog2012 (10) TMI 815X X X X Extracts X X X X X X X X Extracts X X X X ..... stablish that the debt, in fact has become irrecoverable. It is enough of the bad debt is written off as irrecoverable in the accounts of the assessee as decided in TRF Ltd. vs CIT [2010 (2) TMI 211 - SUPREME COURT]. Bad debt should be allowed in the year of write off - in favour of assessee. - ITA No: 653/Del/2012 - - - Dated:- 12-10-2012 - SHRI J.SUDHAKAR REDDY, AND SHRI RAJPAL YADAV, JJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e as business expenditure. 3. None appeared on behalf of the assessee despite the issuance of notice. There is no petition for adjournment either. Under the circumstances we dispose off this appeal qua the assessee, after hearing Shri SK Jain, Ld.Sr.D.R. 4. The assessee, for the purpose of his business of export, was required to obtain from Apparel Export Promotion Council (AEPC), a Government ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ind no infirmity in the order of Commissioner of Income Tax (Appeals) for two reasons. The AO at para 5 admits that the assessee has produced a letter from AEPC, evidencing forfeiture of the deposit. In fact letters dt. 8.4.2002, order dt. 3.4.2002, final settlement notice letter dt. 9.8.2002 and show cause notice letter dt. 4.1.2005 were produced. The Hon ble Supreme Court in the case of TRF Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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