2017 (9) TMI 1982

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.... Rs. 92,45,525/- fully. 2. disallowing Rs. 10,19,667/- being excess claim of depreciation on account of want of proof for additions during the year and re-categorization of the additions towards computers, and electrical under Furniture and Fixtures. 3. disallowing excess carry forward of written down value of fixed assets as on 31st March 2010 affecting amount of allowable depreciation for subsequent assessment year 2011-12 onwards. 4. disallowing Rs. 6,397/- u/s 14A of the Income Tax Act 1961, in spite submission of copy of the appellate order in case your appellants for earlier assessment year stating there in that provisions of section 14A are not applicable to your appellants. 5. not computing deduct....

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.... Rs. 92,45,827/- from A.Y. 2001-02 to 2009-10 and the assessee was claiming the said provision as an allowable provision and the same has regularly been allowed in the assessment orders. Therefore, the CIT(A) dismissed the ground of the assessee by observing that the same cannot now be allowed under section 36(1)(vii). 3. We have gone through the submissions made by both the parties. We noted from the chart available on page 15 of the paper book showing the statement of party-wise bad debts written off and the provision existed as on 31.03.2006 that the assessee has written off the bad debts in respect of 31 parties amounting to Rs. 94,45,827/- during the impugned assessment year while the provisions as on 31.03.2006 was to the extent of....

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....has been created prior to 01.04.2006 will be entitled for deduction under section 36(1)(viia) if the conditions stipulated under section 36(2) are satisfied. From the chart as appearing on page 15 it is apparent that the assessee had written off the bad debts amounting to Rs. 92,45,827/- during the year. It is not related to the provisions in respect of which the assessee has claimed deduction in the earlier assessment year. We, therefore, set aside the order of the CIT(A) on this issue and delete the said addition. Thus, this ground stands allowed. 4. Ground Nos. 2 & 3 relate to the disallowance of Rs. 10,19,667/- being excess claim of depreciation on account of want of proof for additions during the year. After hearing the rival submis....