ORDER

PER AMIT SHUKLA (J.M):

The aforesaid appeals have been filed by the Revenue against order dated 31/12/2024 passed by CIT(A)-56, Mumbai for the A.Y.2016-17 and 2017-18 with respect to quantum of assessment passed u/s.143(3) r.w.s. 144C.

2. In both the years the common grounds raised by the Revenue are as under:-

1. Ground "Whether on the facts and in the circumstances of the case and in law, the Ld. CTT(A) was correct in holding that the RBI Guidelines with regard to revitalizing distressed assets in the in the economy could be imported into the scheme of Chapter IV part D to determine the Profit & Gains from Business or Profession by allowing the assessee to write off restructured instead actual debt determined in books of account based on transaction between the assessee and the debtor

2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was correct in allowing the assessee's contention of write off enhanced debt instead of the actual debt as existing in the books of the assessee

3. Whether on the facts and in the circumstances of the case and in law, the Ld. CTT(A) was correct in allowing the grant of the assessee by ignoring the decision of th