Commissioner Of Income Tax v. M/S.dodsal Ltd

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1985 OF 2009 Commissioner of Income Tax Vs. M/s.Dodsal Ltd. ..Appellant ..Respondent Mr.Suresh Kumar for appellant. Mr.A.Vessanji i/b. S.J.Mehta for respondent. P.C. Heard. Perused appeal. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. 16[th] NOVEMBER, 2009 DATE : 2.Three questions are sought to be raised in the appeal, out of them, question Nos.(b) and (c) are admittedly covered by the judgment of this Court in the case of Director of Income Tax (International Taxation) Vs. M/s.Oman InternationalBank SAOG, in Income Tax Appeal No.114 of 2009 decided on 9th February, 2009(unreported). 3.So far as question (a) is concerned, the same reads as under: Whether in the facts and circumstances of the case and in law, the ITAT is correct in allowing claim of bad debts without appreciating the fact that the relevant income against which the bad debts have been claimed is credited in the Profit & Loss Account in the same Assessment year ? 4.Learned Counsel for the Revenue placed heavy reliance on the judgment of the special Bench in the case of Amway India Enterprises Vs. Dy.CIT Circle (1), New Delhi, wherein in paragraph No.59, the guide-lines have been framed by the Tribunal, which are required to be followed by the Assessing Officer while considering question afresh. In view of the joint motion made by both the parties, dispensing with the reasons in support of this order by consent of parties, the impugned order to the extent it revolves around question (a) referred to hereinabove is concerned, stands set aside. The matter stands restored to the file of Assessing Officer for consideration afresh in the light of the aforesaid judgment of the Special Bench. All contentions on merits in that behalf are kept open. Appeal stands disposed of with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)