1983 (11) TMI 139

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....ar ended on23rd June 1977. 2. The controversy before us is regarding the bad debt of Rs. 10,759 claimed in respect of Roshan Lal & Sons, Jogiwan,Delhi. The ITO rejected the assessee's claim on the short ground that the matter regarding the said debtor was referred to arbitration and the arbitrator's award was dt.6th May 1978and, therefore, in the account year ending23rd June 1977, there were ch....

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....ator and the debtor being not traceable gave an ex parte decision on 6th May 1978 determining Rs. 14,193 as payable by the debtor to the assessee against principal and interest accruing till the date of the said decision, but the award could not be executed because the debtor could not be traced. The AAC observed that the assessee's writing off the debt on23rd June 1977was premature when the arbit....