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TMI Blog2018 (2) TMI 1155X X X X Extracts X X X X X X X X Extracts X X X X ..... ofits of a business implies a comparison between the state of a business at two different / specific dates separated by a year. The comparison between two dates given as the extent of profits / loss. Thus normally accounts are made up every year. In this case accounts have to accounted at 31 March of each year. The Assessee had made a provision on 31 March 2009 i.e. at the end of the previous year relevant to subject assessment year i.e. 2009-10 and determine profit as on 31 March 2003. Thus the position as exists on 31 March 2009 is due to be considered and not any other date. Appeal admitted on question 3) - Whether on the facts and in the circumstances of the case and in law, Tribunal was justified in deleting the addition made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t payments made to the staff at the time of their leaving the employment without taking into account Section 35DDA of the Act ? 3. Re. Question (1): (a) Mr. Tejveer Singh, the learned counsel for the Revenue has very fairly states that issue urged herein stands concluded against the Revenue and in favour of the Respondent Assessee by virtue of the decision of this Court in CIT Vs. Thane Bharat Sahakari Bank Ltd. ITA No. 1117 of 2013 decided on 17th March 2015. (b) In view of the above decision of this Court, the question as proposed does not give rise to any substantial question of law. Thus not entertained. 4. Re. Question (2):- (a) The Respondent Assessee had made provision of ₹ 11.18 Crores for various payments to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on as held in E.D. Sasoon Co. Ltd. Vs. CIT 26 ITR 27 that profits of a business implies a comparison between the state of a business at two different / specific dates separated by a year. The comparison between two dates given as the extent of profits / loss. Thus normally accounts are made up every year. In this case accounts have to accounted at 31 March of each year. The Assessee had made a provision on 31 March 2009 i.e. at the end of the previous year relevant to subject assessment year i.e. 2009-10 and determine profit as on 31 March 2003. Thus the position as exists on 31 March 2009 is due to be considered and not any other date. (e) In the above view, the question (2) as proposed does not give rise to any substantial question of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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