2002 (5) TMI 213

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....of appeal have been taken by the assessee. The grounds in regard to disallowance of bad debt of Rs. 5,51,108 and in regard to sustenance of addition of Rs. 3 lakhs on account of cash credits were only pressed. 3. The other grounds i.e., in regard to depreciation, telephone expenses, legal expenses and entertainment expenses were not pressed. Accordingly these grounds are dismissed as not presse....

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....re it has been provided that amount claimed as bad debt should have been written off during the year in which it was claimed. It is further added that whenever the amount of bad debt claimed as deduction is received back, then in that case the amount received will be treated as income of that year in which the same is received. Therefore, in view of the amended provisions, we allow this ground of ....