2008 (8) TMI 484

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....rder passed by the Tribunal, dated February 20, 2007, and relating to the assessment years 1989- 90 and 1991-92. 2. The controversy involved is very short, inasmuch as the assessee was following a practice of creating a provision on account of bad and doubtful debts by first debiting it in its profit and loss account and then adding it back while computing its total income. Thereafter, in a late....

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....spects from the accounts and other details of the assessee and looked into the continued account of the past years. It was also found that the Assessing Officer had himself also accepted the correctness of the claim of the assessee but had given the benefit only to the extent of the provision made instead of the written back amount. As such, it was found that the Assessing Officer was required to ....