TaxTMI 
TaxTMI 
2014 (1) TMI 1184
X X X X Extracts X X X X
X X X X Extracts X X X X
....he Revenue directed against the Order by the Commissioner of Income Tax (Appeals)-21, Mumbai ('CIT(A)' for short) dated 10.10.2011, partly allowing the assessee's appeal contesting its assessment u/s.143(3) of the Income Tax Act, 1961 ('the Act' hereinafter) for the assessment year (A.Y.) 2008-09 vide order dated 26.10.2010. 2. The only issue arising in this appeal is the validity of the deductio....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... through sale invoices, so that there was no question of non-satisfaction of the condition of section 36(2). The assessee stood allowed relief by the ld. CIT(A) on that basis. 3. Like submissions were raised before us; each party relying on the order of the authority below as favorable to it. In addition, the ld. AR would, with reference to the decision by the hon'ble jurisdictional High Court in....
X X X X Extracts X X X X
X X X X Extracts X X X X
....B page 32). The reliance by the assessee on the decision in the case of Lord's Dairy Farm Ltd. (supra) is therefore not clear. The only issue, therefore, that obtains is as to the satisfaction of section 36(2), toward which the assessee has furnished sale invoices to evidence the nature of the debts written off as well as of the same as having been taken into account in computing its income for a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....eing no separate finding by either of the authorities below with regard to the sum of Rs.7.78 lacs representing miscellaneous balances written off, nor in fact any representation in its respect before us by the parties, who in fact failed to even draw our attention thereto during hearing, much less argue thereon, even as the Tribunal is obliged to decide an issue before it on the basis of findings....