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TMI Blog2013 (2) TMI 178X X X X Extracts X X X X X X X X Extracts X X X X ..... consideration is absolutely impermissible. Merely mentioning that since such amount was paid by the assessee against the head of the legal and professional charges in other years, does not mean that this was treated to be res judicata, it was used for quantification in want of exact and accurate particulars of the legal and professional charges, therefore, for the purpose of determination and quantification only this amount of previous year has been taken into account by the Tribunal which cannot be said to be impermissible at all. – In favour of assessee - Tax Appeal NO 16/08 - - - Dated:- 14-9-2012 - PRAKASH TATIA and JAYA ROY MRS. JJ. Judgment: Heard learned counsel for the parties.The appeal though has been listed for he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of res judicata is not applicable to the income-tax proceedings. Therefore, the hon'ble Income-tax Appellate Tribunal have overlooked the settled legal position laid out by the apex court in their decision in the case of Radhasoami Satsang v. CIT [1992] 193 ITR 321 (SC) and several other such decisions on the issue ? (c) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the pro-vision for bad and doubtful debt is not a provision in respect of an unascertained liability and, therefore, in the computation of book profit under section 115JA of the Income-tax Act the said provision cannot be added back in terms of clause (c) of the Explanation below sub-section (2) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed senior counsel for the respondent, Mr. Biren Poddar, vehemently submitted that there was no reason for disallowance of the loss on account of foreign exchange difference amounting to Rs. 4,64 884. The Tribunal, after looking the schedule 15 of the annual audited accounts wherein the said amount was specified as a foreign exchange loss relating to assets other than fixed assets and that has been recognised in the profit and loss account whereas such gain/loss relating to fixed assets are admissible in the capital account. At page 15 of the paper book in schedule 2 in the annual accounts, foreign exchange difference for the year has been shown as Rs. 4,64,884. Since it is the policy of the assessee to account for the loss/gain on account o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... chers, etc., obviously obtained from such professionals to whom the assessee claimed that the assessee has paid the fee, etc. The assessee gave explanation that during the relevant period, the head quarters of the company was shifted from Kolkata to Jamshedpur and, therefore, these documents were not traceable. The assessee was continuously paying the professional charges and that fact has been taken note of by the Tribunal from the past years payment as well as subsequent years and allowed the claim to the extent of Rs. 17,25,080 on the basis of the expenditure claimed under the said head. The Tribunal also observed that looking to the size of the company, such amount could have been the expenditure. The Revenue has framed a question in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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