No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]
Absence of discussion or inquiry by the assessing officer during assessment proceedings renders the AO's order erroneous, as confirmed by the Principal Commissioner, impacting the revenue's judicial interest
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld the revision of bad debts allowed under Section 36(1)(vii) of the Income Tax Act, 1961 as there was no enquiry conducted by the Assessing Officer (AO). The Principal Commissioner of Income Tax ( PCIT ), after examining the detail found that…
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