The assessee  is a non Banking Finance Company engaged in the business of inter alia of lease finance . The lessee  defaulted in payment of instalments . The Assessee approached the High court seeking winding up of Orson Electronics Ltd and appointment of Official liquidator too safe guard the interest of the creditor . The assessee  wrote off the amount due as bad debt in the books of account .   The Assessing Officer disallowed the claim of the assessee on the ground that pendency of dispute . The Order of assessing Officer is affirmed by the Tribunal . On appeal allowing the claim the Court held that once a once a business decision has taken to write off a debt as a bad debt in books of account should sufficient to allow the claim as bad debt . (AY. 1991 -92 ) (ITA No. 70 of 2004 dt .18 -7 2022)