2013 (4) TMI 140

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..... own under Suspense account under the head "other liabilities and provisions" - held that:- assessee themselves conceded that the amount is excess cash with them retained for several years and there is no claimant for the same. - the appellant cannot treat it as a liability or a provision for liability. - Further, as and when a claim is made and the appellant has to make any payment, the same will .....

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..... the Revenue. 2. The next question pertains to assessment of excess cash in the custody of the assessee which is kept in the suspense account under the head "other liabilities and provisions". On going through the Tribunal's order we notice that the assessee themselves conceded that the amount is excess cash with them retained for several years and there is no claimant for the same. We do not kn .....

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..... this surplus in the suspense account maintained by the assessee, in our view, the appellant cannot treat it as a liability or a provision for liability. Further, as and when a claim is made and the appellant has to make any payment, the same will be allowable as a deduction in the year in which the claim is made. So much so, in our view, the Tribunal rightly rejected the claim of the assessee at .....

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