https://www.taxtmi.com/caselaws?id=218536 The Tribunal upheld the Commissioner of Income Tax's order under Section 263 regarding depreciation not debited to the Profit & Loss Account and interest-free advances, citing lack of proper application of mind by the Assessing Officer. However, the Tribunal did not sustain the order concerning bad debts claimed by the assessee, finding that the AO had considered relevant submissions on this issue. As a result, the appeal of the assessee was partly allowed. en-us Tue, 31 Jul 2012 00:00:00 +0530 Wed, 06 Apr 2016 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218536 The Tribunal upheld the Commissioner of Income Tax's order under Section 263 regarding depreciation not debited to the Profit & Loss Account and interest-free advances, citing lack of proper application of mind by the Assessing Officer. However, the Tribunal did not sustain the order concerning bad debts claimed by the assessee, finding that the AO had considered relevant submissions on this issue. As a result, the appeal of the assessee was partly allowed. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218536