- (1.) HEARD learned counsel for the parties.
(2.) "Whether the subject amount which has been written off in the previous year of the assessee should not be treated as a debt for the purpose of s. 36(2)(i), as amended, of the IT Act -
(3.) THE amount relates to the goods supplied to the two parties being M/s Rathi Hospital worth Rs. 2,48,586, and other being M/s Pratap Higher Secondary School worth Rs. 30,673. The learned Tribunal has discussed the provisions of s. 36(1)(vii) as also considered the Circular No. 551, dt. 23rd supplied last year only, both the parties are very sound parties, they are submitting their regular returns, and in case of M/s Rathi Hospital there is a letter of Mr. Pankaj Choudhary assuring that the payment would be made by his firm, M/s;