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Section 36(1)(viia) of the Income-tax Act, 1961 - Bad debts - Assessment year 1992-93 - Assessee-corporation had invested in shares of various companies - In assessment year 1992-93 assessee wrote off certain investments as bad investments stating that there was no possibility of getting any amount against said investments - Assessing authorities rejected claim of assessee to write off those investments as bad debts - Whether in view of finding of Tribunal that shares were not treated as stock-in-trade by assessee but as investments, therefore, argument of writing off made by assessee could not be sustained on any point of law, nor on any particular section of Act - Held, yes JUDGMENT 1. This is an appeal under section 260A. The West Bengal State Financial Corporation formed under the State Financial Corporations Act, 1951, had invested in shares of various companies and the investments aggregated to Rs. 14,05,785. 2. In the order of the Tribunal the names of the four companies are given. 3. In the assessment year 1992-93, the assessee-corporation wrote off the above sum as a bad investment and stated that "there is no possibility of getting any amount against the investment in the shares of the company". 4. We find from the impugned order of the Tribunal dated July 31, 2001, that the argument on behalf of the assessee was to have these…

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