AdvertisementTirupati Microtech Private Limited Vs DCIT (ITAT Jodhpur)Jodhpur ITAT: NSEL Trading Loss Written Off as Bad Debt Allowable-Possibility of Future Recovery No Ground for DisallowanceIn Tirupati Microtech Pvt. In course of assessment proceedings, the Assessing Officer noticed that the assessee had claimed write off of bad debts of Rs. The Assessing Officer has not made any adverse comment regarding the fulfilment of conditions of Section 36(1)(vii) of the Act. The only apprehension of the Assessing Officer is that there is chance of recovery of the amount by the assessee in future. While deciding the issue in appeals, the First Appellate Authority confirmed the decision of the Assessing Officer.