2022 (2) TMI 1036

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..... ture years and not crystallized expenditure of this year is in the nature of provision to meet the future liability - HELD THAT:- Tribunal rightly took note of the decision of the Hon ble Supreme Court in Metal Box Company of India Ltd. Vs. Workmen [ 1968 (8) TMI 53 - SUPREME COURT] which was followed by the Hon ble Supreme Court in Bharat Earth Movers [ 2000 (8) TMI 4 - SUPREME COURT] . Therefor .....

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..... T. S. Sivagnanam And Hon ble Justice Hiranmay Bhattacharyya For the Appellant : Mr. Debasis Choudhury, Advocate, Mr. Madhu Jana, Advocate For the Respondent : Mr. Vishal Karla, Advocate, Mr. Avra Mazumder, Advocate JUDGMENT T. S. SIVAGNANAM, J.: This appeal by the Revenue filed under Section 260A of the Income Tax Act, 1961 (the Act in brevity) is directed against the com .....

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..... expenditure of this year is in the nature of provision to meet the future liability? 3. Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in holding the consideration received on sale proceeds of assessee s chemical undertaking is not liable to tax as short term capital gain under Section 50 of the Income Tax Act or as long term capital gain? We have heard .....

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