9911796707
TMI Blog2014 (7) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... s adopted identical reasoning. In such circumstances, we do not think that the Appeal raises any substantial question of law. The Same, therefore, deserves to be dismissed. Allowability of bad debts claim - Held that:- The Assessee is engaged in the business of money lending. Merely because the Assessee does not have license to conduct this business, does not mean that the claim of bad debts should be denied. The Commissioner has in relation to this claim held in his order at the Tribunal's order in the case of B. N. Khandelwal v/s Income Tax Officer [2007 (5) TMI 352 - ITAT MUMBAI] would assist the Assessee inasmuch as the amount is lent in ordinary course of money lending business. It was written off after making efforts to recover. The e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lenge this order before the Tribunal by the Income Tax Officer Ward2( 1), Pune in Income Tax Appeal No.1287 of 2009 and in relation to the assessment year 2006-2007. 3 Ground Nos.1 to 8 of the Appeal related to the issue of allowability of deduction under Section 80JJA of the I. T. Act. In relation to that, in the case of the very Assessee, this Court in the case of Commissioner of Income Tax v/s Smt. Padma S. Bora reported in (2013) 355 ITR 368 has dealt with the identical questions. The Commissioner of Income Tax's Appeal was dismissed by this Court finding that the same does not raise any substantial question of law. That was in relation to Assessment Year 2003-2004 and 2004-2005. In the current Assessment Year the Tribunal has ado ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Tribunal's order in the case of B. N. Khandelwal v/s Income Tax Officer, would assist the Assessee inasmuch as the amount is lent in ordinary course of money lending business. It was written off after making efforts to recover.
The effort was unsuccessful. In such circumstances, the Tribunal did not commit any error in reaffirming the conclusion of the Commissioner of Income Tax (Appeals) and which is to be found in paragraph no. 4.2 of the Commissioner's order. The present Appeal also is continuation of the attempt by the Revenue to question such findings. The findings being purely of fact, the same do not raise any substantial question of law. The Appeal is, therefore, dismissed. X X X X Extracts X X X X X X X X Extracts X X X X
|
