2013 (4) TMI 120

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....ICE MR.BHASKAR BHATTACHARYA) This Appeal is at the instance of the Revenue and is directed against an order dated May 24, 2010, passed by the Income Tax Appellate Tribunal, Ahmedabad Bench "A" ["the Tribunal"] in ITA No. 2759/Ahd/2007 for the Assessment Year 2003-04, thereby dismissing the appeal preferred by the Revenue. The only question raised by the Revenue in this Appeal is whether the Trib....

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....ssment Year 2004-05 and the balance loss of Rs. 58,53,130/- was adjusted against the credit waiver granted by the financiers and the assessee did not claim any loss in the accounts even in the year ended March 31, 2004. In such circumstances, the Commissioner of Income Tax [Appeals], {"CIT [Appeals]" } was of the view that the assessee had not debited any claim and the treatment in the book was a....