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TMI Blog2009 (12) TMI 974X X X X Extracts X X X X X X X X Extracts X X X X ..... emani For the Respondent : B.S.Gehlot CIT (DR) ORDER UNDER SECTION 255(4) OF THE I.T.ACT, 1961 Per Bench: Consequent upon difference opinion between the member constituting B which heard all these appeals, Hon'ble President, nominated Zonal Vice President as Third Member to resolve the controversy involved in this appeal. While nominating, Hon'ble president also ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Member concurring with the view of Accountant Member, held that interest under section 234B and 234C of the Income Tax Act, 1961 is leviable, while computing the income in terms of provisions of section 115JA for the Assessment Year 1997-98 and 2000-2001. As per majority view, while computing income under section 115JA of the Income Tax Act, 1961, the levy of interest by Assessing Officer under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of bad debts of ₹ 15,84,669/- is not permissible in the Assessment Year 1999-2000. However, agreeing with Judicial Member with regard to remanding this matter, Hon'ble Vice President (as third member), held that once the debt are written off in the books of account, Assessing Officer will allow the deduction of bad debts in the year in which all the bad debts are actually written ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mber in respect of other grounds/appeal for all the assessment years. In paragraph 87, of the proposed order of Judicial Member, there is a typographical error. In that paragraph, reference to paragraph 79, will be read as paragraph 77. In the result, for the statistical purposes, all the appeals of the revenue and assessee for are treated as partly allowed. This order is pronounced in open Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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