2019 (2) TMI 367

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....RDER PER KUL BHARAT, J.M: This appeal by the assessee is directed against order of the CIT(A), Ujjain dated 16.6.2017 pertaining to the assessment year 2014-15. The assessee has raised following grounds of appeal: 1. The CIT(A) erred in confirming disallowance of bad debts of Rs. 1,63,43,622/-. 2. The Ld. CIT(A) erred in not allowing the deduction u/s 80C in respect of PPF ....

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....hile framing the assessment, disallowed claim of bad debt amounting to Rs. 1,63,43,622/- as claimed on the basis that such claim is premature. 3. Aggrieved by this, the assessee preferred an appeal before the Ld. CIT(A), who after considering the submissions confirmed the disallowance of bad debt. Now assessee is in further appeal. 4. Ground No.1 is against disallowance of bad debt claimed. ....

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....he Ld. Counsel for the assessee submitted that the recovery proceedings of part of sum is made through the court, which has been duly offered for tax, therefore, it cannot be said that the amount has not become bad. 6. We have heard the rival submissions, perused the materials available on record and gone through the orders of the authorities below. the Hon'ble Supreme Court in the case of M/s.....

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....mputing the income referred to in section 28--... This position in law is well settled. After April 1, 1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the assessee. However, in the present case, the Assessing Officer has not examined whether the debt ha....