9911796707
TMI Blog2013 (1) TMI 938X X X X Extracts X X X X X X X X Extracts X X X X ..... A, ACCOUNTANT MEMBER : This appeal filed by the assessee emanates from the order of CIT (Appeals)-IV, New Delhi dated 09.03.2012. 2. The assessee is a 100% wholly owned subsidiary of Air India Limited (earlier known as National Aviation Company of India Limited - NACIL). The assessee company was engaged in the business of transportation of passengers, cargo, etc. in India by air through ai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essation of the liability without appreciating the fact that the act of write off by NACIL did not prejudice their right to recover the amount of ₹ 306,75,17,000/- from the appellant in future and even despite the fact that the Appellant continues to recognize the liability and resultantly the amount was not written back in the books of the Appellant. 3. For that the order passed by the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1; (ii) Judgment of Hon'ble Karnataka High Court in the case of CIT vs. Karnataka Breweries Distilleries P. Ltd. ITA No.12/2005 dated 09.12.2009; (iii) Judgment of Hon'ble Delhi High Court in the case of CIT vs. Hotline Electronics Ltd. ITA No.1073/2011 dated 23.12.2011; and (iv) Judgment of Hon'ble Delhi High Court in the case of CIT vs. Shri Vardhman Overseas Ltd. IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, we find it appropriate to restore the appeal to the file of the CIT (A) with a direction that CIT (A) shall make available the copy of unreported judgments of the other High Courts and ITAT and then decide the issues afresh. 6. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in open court on this 10th day of January, 2013 after the conclusio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
