TaxTMI 
TaxTMI 
2016 (10) TMI 1265
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.... "1. The Ld. CIT(A)-XX, Ahmedabad has erred in law and on facts in deleting the disallowance of bad debts written off of Rs. 36,11,57,536/-, without properly appreciating the facts of the case and the material brought on record by the AO. 1.2. In doing so, the Ld. CIT(A) has erred in law and on facts in not appreciating that the conditions laid down in Section 36(1)(vii) of the Act were not satisfied in respect of the aforesaid claim made by the assessee. 2. The Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 88,38,76,657/- made by the AO on account of provision of bad debts written off, without properly appreciating the facts of the case and the material brought on record by the AO. 2.2 The Ld. CIT(A) has ....
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....nd the provision represents difference between amount outstanding and the value of assets as realised. The Assessing Officer noted that only a journal voucher is passed and no further details. On these facts, the Assessing Officer disallowed this provision for bad debts, for Rs. 88,38,79,657/-, as well. Aggrieved, inter alia, by these disallowances, the assessee carried the matter in appeal before the learned CIT(A). Learned CIT(A) deleted these disallowances, and, while doing so observed as follows :- "5.3 I have gone through the assessment order as also the submissions of the AR carefully. It is seen that the debts have actually been written off in the books of accounts of the appellant. The reliance of the AO in the case of Dhall Ente....
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....tion of Rs. 88,38,79,657/- made by the AO is not justified. The same is deleted." 4. The Assessing Officer is aggrieved of the relief so granted by the learned CIT(A) and is in appeal before us. 5. We have heard the rival contentions, perused the material on record and duly considered facts of the case in the light of the applicable legal position. 6. We find that so far deduction of actual bad debts written off, of Rs. 36,11,57,536/-, are concerned, it is not in dispute that amounts have actually been written off in the books of account of the assessee. The assessee has squared up the individual accounts to the debit of bad debts. In this view of the matter, and in the light of Hon'ble Supreme Court in the case of TRF Limited vs. CIT....