2011 (5) TMI 1059

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.... Pramod Kumar (Accountant Member) 1. The short issue that we are required to adjudicate in this appeal is, whether or not the CIT(A) was justified in upholding the disallowance of Rs. 33,60,396/- on account of bad debts. The assessment year involved is 2006-2007 and the impugned CIT(A)'s Order dated 7-1-2009 was passed in the matter of assessment under section 143 (3) of the I.T. Act, 1961. ....

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....xport; as per business norms, exports are done only against letter of credits; exports are made to only known & reputed parties and as per assessee's own admission, deduction u/s. 80 HHC has been claimed in respect of the said exports, in which double benefits cannot be given. Aggrieved, the assessee carried the matter in appeal before the CIT(A) but without any success in view of the fact that th....

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....w of the matter, the very approach adopted by the Assessing Officer, in declining deduction for bad debts on the ground that the assessee has been allowed deduction under section 80 HHC in respect of the related trade debt, is fallacious. When these facts were pointed out to the learned Departmental Representative, she did not have much to say and she rather dutifully relied upon the orders of the....