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TMI Blog2018 (9) TMI 1029X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tribunal that sales incentive was not payable on the basis of the performance in the last 15 months. This factual finding is not specifically challenged as incorrect or wrong by relying on any document or correspondence exchanged between the respondent-assessee and the Assessing Officer or the dealers. Factual finding is not perverse and cannot be regarded as absurd only on the ground of qualifying note of the auditor. - Decided against revenue X X X X Extracts X X X X X X X X Extracts X X X X ..... -06. The contention of the Revenue is that this expenditure relates to the earlier assessment year 2004-05, and hence cannot be allowed as expenditure in the assessment year 2005-06. 5. The finding of the Tribunal is that sales incentive was paid for meeting sales target in the period of 15 months, ending on 30.6.2004. Thus, the relevant date and payment would relate to the period relevant to the assessment year 2005-2006. This factual position is specifically recorded in para 13 of the order passed by the Tribunal. The respondent-assessee had taken period from 1.4.2003 to 30.6.2004 for the purpose of computing and paying sales incentive to dealers. The sales incentive was payable only after and when the dealers had met the sales figures i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It was, therefore, submitted that if the auditor finds that the financial information furnished to him is not according to the acceptable accounting policy and principles or not according to the relevant regulations and statutory requirements, he may refuse to give an unqualified opinion in which case an assessee would be exposed to grave consequences of not only a best judgment assessment but also to penalty. We can appreciate this apprehension expressed on behalf of the assessee. However, in view of the clarification made by the Union Government in the reply affidavit of Shri Kalyanchand, Under Secretary in the Finance Ministry to the Government of India in paragraph 15 that opinions given by the chartered accountants are not binding eit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal is that the sales incentive was to be quantified and was due and payable only during the period relevant to the assessment year 2005-2006. The appellant/Revenue has not placed on record any material and evidence to show and negate the factual finding of the Tribunal that sales incentive was not payable on the basis of the performance in the last 15 months. This factual finding is not specifically challenged as incorrect or wrong by relying on any document or correspondence exchanged between the respondent-assessee and the Assessing Officer or the dealers. Factual finding is not perverse and cannot be regarded as absurd only on the ground of qualifying note of the auditor. 10. In view of the aforesaid factual finding recorded by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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