2009 (7) TMI 34

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..... ccount of reversal of Income which was confirmed by the CIT(A) and ITAT – HC also upheld the view on the ground of issue of fact, since the assessee failed to prove documentary evidence – On the issue of allowance of interest pertaining for the Year 2001-02 but deduction was claimed in the year 2002-03, HC uphold the decision of lower authority in which AO has disallowed the deduction of interest .....

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..... eciating that the amount of income offered in the earlier year has become irrecoverable and hence the same is allowable as bad debt or business loss ? (3) Whether on the facts and in the circumstances of the case the Tribunal was right in law in holding that the appellant is not entitled to deduction in respect of interest on Inter Corporate Deposit availed in the earlier assessment year but cry .....

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..... greements and reverse the entries booked as income amounting to Rs.87,89,706/- in the books of accounts on 30.09.2003. The authorised representatives were empowered to file necessary returns before the Income Tax authorities and claim the deduction as on 31.03.2003. While dealing with the said claim made on behalf of the appellant, the assessing authority has noted that the appellant failed to pro .....

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..... nd hence, it confirmed the order of the lower authorities. 3. In the light of such categorical findings rendered by the authorities below as well as the Tribunal, which were purely questions of fact, with which we are not in a position to interfere with inasmuch as it does not involve any question of law, much less substantial question of law. 4. As far as the third question is concerned, .....

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..... airly stated that there is no such provision available for the assessee to claim the said benefit. In the said circumstances, the conclusion of the assessing authority that the interest for the period ending 31.03.2002 ought to have been claimed by the assessee in the assessment year 2002-2003 and the same cannot be allowed in the assessment year 2003-2004, is in consonance with law and we do not .....

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