9911796707
TMI Blog2014 (7) TMI 911X X X X Extracts X X X X X X X X Extracts X X X X ..... necessary for it to close individual account of each of its debtors in its books –the order of the Tribunal is upheld – Decided against Revenue. X X X X Extracts X X X X X X X X Extracts X X X X ..... (A) dismissed the appeal and confirmed the order passed by the Assessing Officer. 4. Being aggrieved by and dissatisfied with the order passed by the CIT(A) denying deduction under sec. 36(1)(vii) of the Act, the assessee preferred an appeal before the ITAT, and by the impugned judgment and order dated 31.12.2013, the learned Tribunal has allowed the appeal preferred by the assessee and allowed the deduction on account of bad debts of ₹ 2,18,05,392/-, the present appellant-revenue has preferred the present appeal before this Court to consider the proposed substantial question of law, as stated above. The learned Tribunal, in para-9, has observed as under: "9. We have heard both of the parties. The Assessing Officer has made the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue. We have also perused the impugned judgment and order passed by the learned Tribunal. The learned Tribunal, while allowing the claim of the assessee of deduction of ₹ 2,18,05,392/- u/s. 36(1)(vii) of the Act, as bad debts, the learned Tribunal has heavily relied on the decision of the Hon'ble Supreme Court in the case of Vijaya Bank v. CIT, reported in (2010) 323 ITR 166. We have also considered the decision of Hon'ble Supreme Court in the case of Vijaya Bank vs. CIT (supra). The question which is proposed in the present appeal is squarely covered by the decision of the Hon'ble Supreme Court in the case of Vijaya Bank v. CIT (supra). In the case of Vijaya Bank v. CIT (supra), the Hon'ble Supreme Court has observed and held tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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