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of ITAT upholds that deduction for bad debts under s.36(1)(vii) is allowable upon accounting write-off without proof of irrecoverability, decision pronounced for the assessee. Addition for alleged undisclosed income is dismissed in limine as AO raised no infirmity in the assessee's quantification. Disallowances of interest under s.36(1)(iii) are deleted: interest corresponding to a land advance to a related Trust is held to be business expenditure; interest on loans advanced pursuant to MOUs in the money-lending business (including advances to related group entities) is allowable as incurred for business purpose, consistency in prior treatment being respected. AO directed to give effect to CIT(A)'s orders in favour of the assessee.
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