Itxa/4637/2010 Of The Commissioner Of Income Tax -12 Mumbai v. Maganlal N. Savani Huf

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL(L) NO.2969 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. Maganlal N. Savani HUF ..Respondent. Mr. Suresh Kumar for appellant. None for respondent. CORAM : DR. D.Y.CHANDRACHUD AND J.P.DEVADHAR, JJ. DATED : 4TH FEBRUARY, 2010 P.C. :- 1.Office objections are overruled. Registry is directed to register the appeal. 2.The judgment of the Tribunal impugned by the Revenue in this appeal pertains to assessment year 2003-04, in so far as the Tribunal confirmed the order of the CIT(A) in deleting the disallowance made by the Assessing Officer on account of bad debts. The Tribunal has recorded a finding of fact that in the present case, the assessee had in fact made sufficient efforts to recover the amount which has been granted as a loan and has filed a suit for recovery. The amounts were written off when no recovery was made. The view of the Tribunal is consistent with the law laid down in Director of Income Tax (International Taxation) V/s. Oman International Bank SAOG [(2009) 184 ITR 314 (Bom)]. The appeal does not raise any substantial question of law and is accordingly dismissed. (J.P.DEVADHAR, J.) (DR. D.Y.CHANDRACHUD, J.)