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TMI Blog2022 (1) TMI 1380X X X X Extracts X X X X X X X X Extracts X X X X ..... the sister concerns - Tribunal allowed the claim - HELD THAT:- Substantial question of law involved in this appeal has already been considered and decided in favour of the assessee by judgment [ 2021 (12) TMI 1446 - MADRAS HIGH COURT] as held tribunal has taken note of the position that the Memorandum and Articles of Association permitted the assessee to carry on the business of money lending and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowing the bad debts as claimed by the assessee even though the conditions laid down in Section 36(1)(vii) read with Section 36(2) were not satisfied ?" 3. The facts of the case is that that assessee had entered into agreements with M/s.Elgi Finance Ltd., for the take over and assignment of certain book debts. In the period relevant to assessment year 2004-05 the assessee wrote off certain deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant / Revenue as well as the respondent / assessee jointly submitted that the substantial question of law involved in this appeal has already been considered and decided in favour of the assessee by judgment dated 06.12.2021, passed in TCA.Nos.1239 to 1241 of 2009, the relevant passage of which, is usefully extracted hereunder: "5. As regards the second substantial question of law, the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en over from the sister concerns voluntarily only as a measure of support to it and knowing fully well that the same was irrecoverable. Thus, the claim for write-off, according to the Assessing Officer, was liable to be denied. In appeal, the Commissioner of Income Tax (Appeals) allowed the claim of the assessee. 8. We find, as a matter of fact, that the Tribunal has taken note of the position t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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