9911796707
TMI Blog2018 (8) TMI 1425X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee - Decided against the revenue. - R/TAX APPEAL No. 21 of 2016 - - - Dated:- 21-8-2018 - MR. AKIL KURESHI AND MR. B.N. KARIA, JJ. For The PETITIONER : MRS MAUNA M BHATT, Advocate For The RESPONDENT : MR B S SOPARKAR, Advocate ORAL ORDER ( PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) Revenue has filed this appeal challenging the judgment of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set of appeals; namely, (i) disallowance of the provision made for the current years under appeal and (ii) disallowance of actual liability pertaining to earlier years. So far as the issue with regard to deletion of addition by the CIT (A) being the provisions made for damaged goods for the current year and earlier years, the Tribunal has proceeded on the basis of the assessees own case in the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The Apex Court in the case of Rotork Controls India (P.) Ltd (supra) observed that a provision is a liability which can be measured only by using a substantial degree of estimation and that a provision is recognized when (a) an enterprise has a present obligation as a result of a past event; (b) it is probable that an outflow of resources will be required to settle the obligation and (c ) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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