https://www.taxtmi.com/caselaws?id=313481 ITAT Chennai held that CIT(A) erred by following Section 263 directions instead of rendering independent findings as first appellate authority. The Tribunal confirmed AO's disallowance under Section 36(1)(viia) based on established precedent requiring provision for bad debts in account books for claiming deduction. However, the OTS-interest waiver issue was remitted back to CIT(A) for proper adjudication since assessee contested it before Tribunal but not before CIT(A). Appeal was partly allowed for statistical purposes. en-us Fri, 04 Nov 2022 00:00:00 +0530 Wed, 17 Apr 2024 08:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313481 ITAT Chennai held that CIT(A) erred by following Section 263 directions instead of rendering independent findings as first appellate authority. The Tribunal confirmed AO's disallowance under Section 36(1)(viia) based on established precedent requiring provision for bad debts in account books for claiming deduction. However, the OTS-interest waiver issue was remitted back to CIT(A) for proper adjudication since assessee contested it before Tribunal but not before CIT(A). Appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313481