COMMISSIONER OF INCOME TAX Vs. ROOPCHAND NAWALCHAND GANDHI

JUDGEMENT

(1.) "(1) Whether on the facts and in the circumstances of the case, the learned Tribunal is justified in holding that the business debt had become bad and is allowable under s. 28/29/37(1) of the IT Act and accordingly deleting the addition of Rs. 52,65,237 made by the AO on account of unaccounted debtors which was confirmed by the learned CIT(A) ? (2) Whether on the facts and in the circumstances of the case, the learned Tribunal is justified in deleting the addition of Rs. 1 lac made by the AO on account of undisclosed income declared in the return, by holding that once the income has already been disclosed credit of the same must be given in all fairness and denial of such benefits on any pretext is not justified -