9911796707
TMI Blog2007 (5) TMI 221X X X X Extracts X X X X X X X X Extracts X X X X ..... r has himself allowed the claim for the balance amount, even though approval has been received after the close of the previous year - Tribunal was right in deleting addition made by AO - 410 of 2007 - - - Dated:- 4-5-2007 - MADAN B. LOKUR, V.B. GUPTA JJ Ms. P. L. Bansal for the appellant. None appeared for the respondent. JUDGMENT The judgment of the court was delivered by V. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs. 31,62,238, the Assessing Officer denied the benefit of writing off the bad debts since the assessee has not furnished any evidence to this effect. 3. In appeal filed by the assessee, the Commissioner of Income-tax (Appeals) held that the amount of Rs. 31,62,238 has been written off during the year and the same should be allowed as deduction, even though the approval from the Reserve Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the onus is still on the assessee to prove that the debts has become irrecoverable beyond doubt. 6. It is apparent from the record that the Reserve Bank of India had earlier given an approval for writing off a sum of Rs. 90,36,518 vide their letter dated March 20, 1998, i.e., subsequent to the previous year relevant to the assessment year under consideration. The assessee's claim for writi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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