2009 (12) TMI 974

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....I A.N.PAHUJA ACCOUNTANT MEMBER For the Appellant : S.N.Soparkar, and T.P.Hemani For the Respondent : B.S.Gehlot CIT (DR) ORDER UNDER SECTION 255(4) OF THE I.T.ACT, 1961 Per Bench: Consequent upon difference opinion between the member constituting 'B' which heard all these appeals, Hon'ble President, nominated Zonal Vice President as Third Member to resolve the controversy involv....

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....000? 2. In respect of question no.1, Hon'ble Vice President as Third Member concurring with the view of Accountant Member, held that interest under section 234B and 234C of the Income Tax Act, 1961 is leviable, while computing the income in terms of provisions of section 115JA for the Assessment Year 1997-98 and 2000-2001. As per majority view, while computing income under section 115JA of ....

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....sident concurred with a view expressed by both the Member that deduction for provisions of bad debts of Rs. 15,84,669/- is not permissible in the Assessment Year 1999-2000. However, agreeing with Judicial Member with regard to remanding this matter, Hon'ble Vice President (as third member), held that once the debt are written off in the books of account, Assessing Officer will allow the deduct....