2022 (6) TMI 1353

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..... ts since they were not recoverable though they were in the nature of discounts - AO held that the assessee could not produce any details such as copies of invoices to prove the claim relating to the claim of discounts and any correspondence to show that the Government undertaking claimed discounts on the invoices raised by the assessee - HELD THAT:- The undisputed position that emerges is that the .....

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..... RESIDENT AND HON BLE SHRI MANOJ KUMAR AGGARWAL, AM For the Appellant : Shri R. Vijayaraghavan (Advocate)-Ld. AR For the Respondent : Shri Varuvooru Sreedhar (Addl. CIT)-Ld. DR ORDER Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2008-09 arises out of the order of learned Commissioner of Income Tax (Appeals)-5, Chenna .....

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..... d corporations. He also mentioned that in remand proceedings, the Assessing Officer can also adjudicate the issue relating to allowing the said debts as business loss. We order accordingly and direct the Assessing Officer to adjudicate the issue afresh after considering the material placed before him even it means furnishing of additional evidences for the first time before him. In the remand proc .....

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..... t undertaking to deduct amounts from invoices as volume discounts / turnover discounts at the time of releasing the payments. In support, the assessee submitted ledger extract of the customers wherein short-payment was made and finally wrote-off the same as bad-debts. However, Ld. AO held that the assessee could not produce any details such as copies of invoices to prove the claim relating to the .....

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..... are the customer of the assessee and the shortfall of amount so received by the assessee has been claimed as bad-debts / discounts. In our considered opinion, to claim the same, it was not necessary for the assessee to map each of the amounts against particular invoices. It was sufficient to show that there was shortfall in receipt of amount against the invoices. This fact has already been establ .....

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