2015 (10) TMI 1390

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..... ly followed the decision of the Hon’ble Gujarat High Court in Girish Bhagwatprasad (supra) wherein held that once it is established that the assessee has written off the business debt, it is not necessary to establish that the said debt had become bad. The fact that the assessee has written off the amount of debt in its account books, has not been doubted by the Revenue. In these facts, following .....

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..... e, the appeal was not maintainable before the Tribunal, and had not decided the appeal of the Revenue on its merits. The Revenue preferred an appeal to the Hon ble jurisdictional High Court, which vide its order dated 8.10.2013 in Tax Appeal No.2493 of 2009 has set aside the order of the Tribunal, and the appeal was remanded to the Tribunal to decide the same on merits in accordance with law, afte .....

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..... AO. 5. We have considered rival submission and perused the orders of the AO and the CIT(A). We find that the issue of allowability of bad debts is covered in favour of the assessee with the decision of the Hon ble Apex Court and also with the decision of the Hon ble jurisdictional High Court cited supra. We find that the CIT(A) has rightly followed the decision of the Hon ble Gujarat High Court .....

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