2001 (12) TMI 10

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..... d be entitled to a deduction of Rs. 15,53,124?" - In view of the Supreme Court's decision in Kedarnath Jute Manufacturing Co. Ltd. v. CIT the deduction has to be allowed and hence the question is answered in favour of the assessee and against the Revenue. - - - - - Dated:- 6-12-2001 - Judge(s) : R. JAYASIMHA BABU., A. K. RAJAN. JUDGMENT The judgment of the court was delivered by A.K. RAJ .....

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..... assessee took the stand that it was entitled to infancy protection under section 16(1)(b) of the Provident Fund Act. The Provident Fund Commissioner rejected the contention. Therefore, the assessee made a provision for the liability of Rs. 15,53,124 as on March 31, 1980. The Assessing Officer took the view that the provision would not be allowable for the assessment year 1980-81, as the liability .....

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