ITAT Uses Section 254 to Remove Bad Debt Addition; High Court Affirms Tribunal's Decision Favoring Assessee.

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....Power of ITAT u/s 254 - Addition on account of bad debt deleted - Tribunal has committed no illegality in upholding the finding of fact recorded by the commissioner income tax deleting the addition made on account of bad debt by holding that the assessee has not raised any claim of bad debts either in the profit and loss account or balance sheet. - HC....