Appeal by the revenue the Court held that the Assessing Officer had recorded a finding that the assessee had failed to substantiate its claim by producing evidence. However, this aspect of the matter was neither considered by the Commissioner (Appeals) nor the Tribunal. The matter was remitted to the Assessing Officer and the assessee was to be granted an opportunity to substantiate its claim for deduction of bid loss by adducing cogent material  and to decide the issue in the light of the decision of the Supreme Court in the case of Taparia tools v. JCIT  (2015)  372 ITR 605 (SC). (AY.2005-06)