2018 (8) TMI 2175

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....r the Respondent : Mr. Suresh Kumar with Ms. Swapna Gokhale. P.C:­ This Appeal under Section 260­A of the Income Tax Act, 1961 ('Act') challenges the order dated 24.8.2006 passed by the Income­ Tax Appellate Tribunal ('Tribunal'). The impugned order dated 24.8.2006 relates to Assessment Year 1999­00. 2 On 24.7.2008, this Appeal was admitted on the following....

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.... of the Act, there is no requirement in law that the Assessee must establish that the debt infact has become irrecoverable. This as requirement of Section 36(1)(vii) of the Act to claim deduction on account of bad debts is for the Assessee to write off the debt as irrecoverable in its account. This is as held by the Supreme Court in TRF Ltd. v. CIT (2010) 323 ITR 397. 5 In this case, it is undi....