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TMI Blog2010 (1) TMI 1299X X X X Extracts X X X X X X X X Extracts X X X X ..... ese appeals are common in nature, they are clubbed together, heard together and disposed of by this common order for the sake of convenience. 2. First we will take up the common issues in the Revenue appeals in ITA Nos.558/Hyd/2007 and ITA-559/Hyd/2007. The Revenue raised the following grounds: The CIT(A) ought to have upheld the disallowance of weighted deduction u/s 35(2AB) in view of the fact the business of bio technology has been made eligible for claiming deduction u/s 35(2AB) by the Finance Act with effect from 1.4.2002 i.e. relevant to assessment years 2002-03. 3. The learned Departmental Representative submitted that the assessee company is engaged in the business of manufacture of Hepatitis B Vaccine which cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing officer also made a reference to the Ministry of Science Technology relating to the eligibility of exemption u/s 35(2AB) and the DSIR, New Delhi have sent a communication vide their letter No.TV-IV/15(64)/2005 dated 23.11.2006 a copy of which was submitted before the Tribunal in Paper Book No.ITA-558/Hyd/2009 at page No.30 which reads as follows: The referred company M/s Bharat Bio-Tech International Limited, Hyderabad is engaged in the manufacture of vaccine and Bio Pharmaceuticals and the research programme of the company are also aimed as development of such products. This has also been stated in the approval in DFrom-3CM dated 25.9.2001 issued by the department. Vaccines and Bio Pharmaceutical products are covered under D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) wherein it was held that since the provision for gratuity was made on the basis of actuarial calculations, it was an ascertained liability and the said amounts could not be added to the net profits. In view of the above judgement of the Bombay High Court, we are inclined to set aside the issue to the file of assessing officer not to add back that portion of provision of the gratuity which was made on the basis of actuarial calculation since it is an ascertained liability. The balance if any other than the actuarial valuation of gratuity to be added back. Accordingly, the grounds taken by the Revenue in ITA Nos.558/Hyd/2007, ITA No.560/Hyd/2007 and ITA No.636/Hyd/2007 are partly allowed. 9. Now the Revenue appeals in ITA Nos.1327/Hyd/20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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