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TMI Blog2019 (8) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... re available and the same shall be accepted on fact by the authorities below. We are now informed by Ms. K. Mamatha, learned senior counsel for Revenue, that the aforestated order of the Division Bench has been confirmed by the Supreme Court by virtue of the dismissal of the SLP at the threshold. It is not open to the Revenue to assert any right to allow or disallow any deductions once the books of accounts are rejected. Such an option would arise only in the event the books of accounts are accepted. In the light of the aforestated decision, which we are not inclined to disagree with, the main questions of law sought to be raised presently stand settled against the Revenue. - I.T.T.A. NO. 415 OF 2016 - - - Dated:- 9-8-2019 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act by following the decision of the Hon ble High Court in the case of Indwell Constructions (232 ITR 776) without appreciating the fact that the said decision was rendered before incorporating the provisions of section 40 (A) (ia) of the Act W.e.f. 01.04.2005? 6.5 Whether on the facts and circumstances of the case and in law, the ITAT was correct and justified in interpreting the word payable appearing in sec. 40 (a) (ia) of IT Act as payable on 31st March of accounting year by relying upon the ratio in the case of Merilyn Shipping Transporter Vs. CIT (TDS) 136 ITD 23 (SB) (Vizag) and thereby not appreciating and ignoring the ratio of decision in the case of CIT, Kolkatta XVIII vs. Md. Jakir Hossain Mondal [2013] 33 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel for Revenue, that the aforestated order of the Division Bench has been confirmed by the Supreme Court by virtue of the dismissal of the SLP at the threshold. 4. In that view of the matter, it is not open to the Revenue to assert any right to allow or disallow any deductions once the books of accounts are rejected. Such an option would arise only in the event the books of accounts are accepted. 5. In the light of the aforestated decision, which we are not inclined to disagree with, the main questions of law sought to be raised presently stand settled against the Revenue. In consequence, the incidental questions which are sought to be raised would not survive for independent consideration. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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