Amount not recoverable due to abrupt embargo on trading at NSEL allowed as bad debts if written off: ITAT

INCOME TAX : Where Assessing Officer had not disputed fact that assessee had carried out trading of commodities at NSEL and there were outstanding amounts that remained to be recovered by assessee on account of abrupt embargo on trading at NSEL and same were written off by assessee as bad debts, assessee was to be allowed to write off said bad debts during year without expecting assessee to establish that such debt had became irrecoverable

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