TaxTMI 
TaxTMI 
1979 (3) TMI 78
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....med bad debt of Rs. 9,321. The learned ITO was of the view that the assessee did not take any recourse to legal proceedings. In his opinion the debt actually did not become bad. Consequently, he disallowed the claim. He also added a sum of Rs. 1,152 towards the income from interest and the same was also added to the total income of the assessee. Consequently, the assessment was completed on a net ....
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....eedings before writing off a debt as bad. It was also contended that it was not in the interest of the assessee to start legal proceedings against the debtors. 4. The learned AAC examined the contention of the assessee. In his opinion, it was not necessary to take legal steps before writing off the debt as bad. He also found that the debts were due for the last many years. He also opined that the....
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....ported the order of the AAC. He also contended that he gave a detailed note before the ITO and the AAC stating the circumstances under which the debt was claimed as bad debt. The copies of the said note are on the paper book. According to the learned counsel the debts in question became bad. They were due from the parties for the last many years. The assessee could not recover anything from these ....
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.... the partners of the firm in order to know the correct state of affairs. This procedure was never adopted by the learned ITO. The learned AAC gave clear finding that the business of the firm was closed on 4th Oct., 1976. This fact was not disputed by the learned Departmental Representative before me. The details of the debts were given by the assessee. They are on the paper book. There are 14 part....