https://www.taxtmi.com/caselaws?id=306176 The Tribunal ruled in favor of the appellant regarding the rejection of the claim of write off of bad debts related to losses at the National Spot Exchange. The CIT(A)'s decision was deemed unsustainable due to lack of proper examination of relevant documents. The Tribunal directed the Assessing Officer to re-examine the claim in light of actual delivery-based transactions. The appellant's alternate claim as 'business loss' was not deliberated upon. The appeal was allowed for statistical purposes due to discrepancies in the quantum of the claim, and the Assessing Officer was directed to re-verify the tax credit claimed. en-us Mon, 03 May 2021 00:00:00 +0530 Sun, 15 Jan 2023 14:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306176 The Tribunal ruled in favor of the appellant regarding the rejection of the claim of write off of bad debts related to losses at the National Spot Exchange. The CIT(A)'s decision was deemed unsustainable due to lack of proper examination of relevant documents. The Tribunal directed the Assessing Officer to re-examine the claim in light of actual delivery-based transactions. The appellant's alternate claim as 'business loss' was not deliberated upon. The appeal was allowed for statistical purposes due to discrepancies in the quantum of the claim, and the Assessing Officer was directed to re-verify the tax credit claimed. Case-Laws Income Tax Mon, 03 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306176