https://www.taxtmi.com/caselaws?id=207203 The Tribunal decided in favor of the assessee regarding the disallowance of bad debts amounting to Rs.2,55,85,260 for the assessment year 2004-05, allowing the claim as the debts were found to be irrecoverable. The Tribunal upheld the levy of interest under sections 234B and 220(2) in accordance with the law. For the assessment year 2005-06, the Tribunal remitted the issue of the claim for carry forward of loss back to the Assessing Officer for appropriate allowance. The Tribunal partially allowed both appeals, providing detailed reasoning for each issue involved. en-us Thu, 04 Nov 2010 00:00:00 +0530 Thu, 30 May 2013 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207203 The Tribunal decided in favor of the assessee regarding the disallowance of bad debts amounting to Rs.2,55,85,260 for the assessment year 2004-05, allowing the claim as the debts were found to be irrecoverable. The Tribunal upheld the levy of interest under sections 234B and 220(2) in accordance with the law. For the assessment year 2005-06, the Tribunal remitted the issue of the claim for carry forward of loss back to the Assessing Officer for appropriate allowance. The Tribunal partially allowed both appeals, providing detailed reasoning for each issue involved. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207203