2014 (4) TMI 281

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....r: A S Bopanna: The appellant is before this Court assailing the order dated 8.4.2011, in ITA No.945/BANG/2010 for the assessment years 2007-08. 2. While assailing the orders passed by the Assessing Officer and the Appellate Tribunal, the appellant has raised the following question of law for consideration.              "Whether ....

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....w the appellant is seeking benefit of the provision of the Act for the purpose of taxation. 4. The question of law raised above would indicate that the issue which requires consideration is as to whether the appellant should reflect the same in the profit and loss account as per the accounting standards. 5. The case of the revenue is that, since such indication has not been made and further ....

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....shed. 7. In that view the question of law at this juncture would not arise for consideration until the appellant establishes before the Assessing Authority that the amount has been actually treated as the business loss based on the instructions issued by the RBI due to the said amount being classified as 'non-recoverable' . 8. In that view of the matter we are of the opinion that the matter ....