2015 (5) TMI 318

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.... (Per : Honourable Mr. Justice M. R. Shah) 1.0 Feeling aggrieved and dissatisfied with the impugned judgment and order dated 27.08.2014 passed by the learned Income Tax Appellate Tribunal, 'B' Bench, Ahmedabad in X-Objection No.148/Ahd/2011 for the Assessment Year 2006-07, the Revenue has preferred the present Tax Appeal with the following proposed substantial question of law. "Whe....

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....see had not justified as to how the debts had become bad. That the AO having not satisfied with the explanation given by the assessee the AO added Rs. 1,58,529/- back to the income of the assessee. That on an appeal by the assessee, the learned CIT(A) confirmed the addition made by the AO holding that the amount of Rs. 1,58,529/- representing the advance given to different parties was not arising ....

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....dvances and other debit balances claimed by the assessee under section 36(1)(vii) of the Act, the Revenue has preferred the present Tax Appeal with the aforesaid proposed substantial question of law. 3.0 Mrs. Bhatt, learned Counsel appearing on behalf of the Revenue has vehemently submitted that the learned Tribunal has materially erred in not appreciating the fact that the amount of Rs. 1,58,5....