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TMI Blog2013 (8) TMI 1134X X X X Extracts X X X X X X X X Extracts X X X X ..... shnan, C.A. ORDER PER VIKAS AWASTHY, JUDICIAL MEMBER The appeal has been filed by the Revenue against the order of the Commissioner of Income Tax (Appeals)-V, Chennai dated 25-02-2013 relevant to the Assessment Year (AY) 2006-07. 2. The assessee is a Public sector Transport Undertaking. The assessee filed return of income for the AY. 2006-07 on 28-11-2006 declaring a loss of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provision for wage arrears was made as per wage settlement, therefore, it is an ascertained liability. The CIT(Appeals) directed the Assessing Officer to allow the same after verification. Now, the Revenue has come in appeal against the order of the CIT(Appeals). 3. Shri Guru Bhashyam, JCIT appearing on behalf of the Revenue reiterated the grounds of appeal and prayed for setting aside the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew of the Wage Settlement Agreement between the assessee and the trade unions before the Joint Labour Commissioner (Re-conciliation), Chennai on 31-08-2005. The provision has been created against the ascertained liability. The CIT(Appeals) has remitted the issue back to the Assessing Officer with a direction to allow the same after verification. We do not find any infirmity with the findings of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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