9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (9) TMI 1833 - AT - Income TaxDisallowance of provision for leave encashment u/s 43B(f) - HELD THAT - A decided in M/S. S.R. BATLIBOI CO 2012 (3) TMI 585 - ITAT KOLKATA set aside the orders of the authorities below on this point and restore the matter back to the file of the AO with the direction that he will readjudicate this issue as per decision of the Hon ble Apex Court in the case of M/s. Exide Industries Ltd. 2009 (5) TMI 894 - SC ORDER - Appeal of assessee is allowed for statistical purposes.
Issues:
1. Disallowance of provision for leave encashment based on actuarial valuation for AY 2009-10. Detailed Analysis: The appeal was filed against the order of Ld. CIT(A)-6, Kolkata for the assessment year 2009-10. The sole ground of appeal was the disallowance of a sum of ?60,17,025 for provision made for leave encashment in the current assessment year based on actuarial valuation. The issue was previously dealt with by the Tribunal in the assessee's own case for AY 2007-08. The Tribunal had set aside the orders of the authorities below and restored the matter back to the file of the Assessing Officer for adjudication in accordance with the decision of the Hon'ble Apex Court in the case of M/s. Exide Industries Ltd. The Tribunal directed the Assessing Officer to await the final outcome of the Hon'ble Apex Court in SLP (Civil) 22889 of 2008 in M/s. Exide Industries Ltd. case and decide the issue accordingly. The Ld. Counsel highlighted the previous Tribunal decision and requested the matter to be restored back to the file of the Assessing Officer. The Learned Departmental Representative did not raise any objection to this request. The Tribunal considered the submissions of both parties and perused the records of the case. In line with the previous decision on a similar issue, the Tribunal set aside the order of the Ld. CIT(A) and restored the matter back to the file of the AO for adjudication. The Assessing Officer was directed to await the final outcome of the Hon'ble Apex Court in SLP (Civil) 22889 of 2008 in M/s. Exide Industries Ltd. case and decide the issue as per the decision of the Hon'ble Apex Court in M/s. Exide Industries Ltd. The appeal of the assessee was allowed for statistical purposes. In conclusion, the Tribunal allowed the appeal of the assessee for statistical purposes and pronounced the order in the open court on 20.09.2017.
|
