2021 (1) TMI 83

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....S.SYAL, VP : This appeal by the Revenue is directed against the order dated 30-11-2016 passed by the Commissioner of Income-tax (Appeals)-4, Pune in relation to the assessment year 2011-12. 2. The only issue taken up by the Revenue is against deletion of addition of Rs. 1,67,64,206 made by the Assessing Officer on account of reversal of bad debts provision. 3. Succinctly, the facts of the....

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....ion for bad and doubtful debts and then added back the same amount while computing its total income, in the same way in which the provision for the instant year at Rs. 5.00 crore, after adjustment of Rs. 1.67 crore, was debited to the Profit & Loss Account and also added back in the computation of income. In other words, the assessee eventually did not claim any deduction at the time of creation o....