2013 (7) TMI 1043

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.... is a Revenue appeal against the order of CIT(A)-38, Mumbai dated 1.7.2011. We have heard the ld. DR and the ld. Counsel. 2. Ground No.1 : The revenue has raised the following ground "1. On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in holding that deduction u/s.20,70,684/- on account of bad debts u/s. 3691)(viii) r.w.s. 36(2) of the I.T. Act, 1961 was allow....

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....urt upheld the order of the ITAT on the issue following the decision of the Hon'ble High Court in the case of CIT vs. Shreyas S. Morakhia (342 ITR 285) . Therefore, we see no reason to interfere with the order of CIT(A). Accordingly, the ground is rejected. 3. Ground No.2 is as under :- "2. On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in deleting the ad....