Dcit v. Oman International Bank Saog Reported In

- 1 - IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. INCOME TAX APPEAL NO.599 OF 2008 ... The Commissioner of Income-Tax VI Appellant v/s. M/s.The Book Centre Limited Respondent ... Mr.Suresh Kumar for the Appellant. Mr.S.G.Dalal for the Respondent. ... CORAM: D.K.DESHMUKH& J.P.DEVADHAR, JJ. DATED:19TH SEPTEMBER, 2008 P.C.: Rule. Returnable forthwith. Heard finally by consent of parties. - 2 - 2. In this case the tribunal has disposed of the appeal by relying upon its decision in the case of DCIT Vs. Oman International Bank SAOG reported in 286 ITR 08 (AT)(SB). The grievance of the revenue is that the amount of bad debts claimed by the assessee related to advances made for purchasing the cable. Whether cable was required for the purpose of carrying on the business of the assessee has not been considered by any of the authorities below. In the absence of any finding to that effect, in our opinion, it would be just and proper to set aside the order passed by the tribunal and remand the matter back to the tribunal for denovo consideration. 3. Accordingly, by consent the appeal is allowed by remand. It will be open to the tribunal to call for a report from the Assessing Officer regarding the nature of the business and whether cables were required for carrying on its business. Appeal is disposed off accordingly. No order as to costs. (D.K.DESHMUKH, J.) - 3 - (J.P.DEVADHAR, J.)