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TMI Blog2022 (9) TMI 1608X X X X Extracts X X X X X X X X Extracts X X X X ..... view that the above issue in the said case is fully factual. Therefore, the substantial question of law no.(8) is not admitted. Learned Advocate for the appellant shall file requisite number of informal paper books prepared out of Court within a period of 10 (ten) weeks from date including therein all relevant papers and documents serving a copy thereof on the learned Advocate for the respondent. Let the appeal be listed after 12 (twelve) weeks. Since the respondent is represented by their learned Advocate, service of notice of this appeal on the respondent stands waived. - THE HON BLE JUSTICE T. S. SIVAGNANAM And THE HON BLE JUSTICE SUPRATIM BHATTACHARYA Mr. Vipul Kundalia, Adv. Mr. Soumen Bhattacharjee, Adv. .for appellant Mr. J.P. Khai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the Hon ble ITAT was correct on facts and in law in holding that the employee s contributions to PF ESI are governed by the provisions of Section 43B of the Income Tax Act, 1961, while the same is separately dealt in section 36(va) of the Income tax Act and the declaratory explanation introduced in the clauses 8 9 of the Finance Bill, 2020 ? v) Whether on the facts and circumstances of the case and in law, the Hon ble Tribunal has erred in deleting the Transfer Pricing adjustment made by the TPO on account of Corporate Guarantee provided by the assessee to its foreign associate enterprises (AE) ? vi) Whether on the facts and circumstances of the case and in law, the Hon ble Tribunal has erred in holding that the Corporate Guarantee does ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of the corresponding project s job details. The Assessing Officer was of the view that the alleged project qua foreseeable loss in contract revenue; had been substantially completed and revenue therefrom also stood recognized during earlier years. He thus held that the assessee s provision was against a liability which might arise in future due to any defect in the projects and liabilities incurred by removing those defects. And that in such a liability which was to be incurred by a future rate was in the nature of a contingent liability disallowable u/s 37(1) of the Act. He included it in book profits computation u/s. 115JB Explanation-1(c) of the Act. He lastly concluded that if at all the assessee had to make any such provision of lia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t works by in compliance of AS-7 of the Act. The Revenue s instant substantive grievance fails therefore. On going through the above findings, we are of the considered view that the above issue in the said case is fully factual. Therefore, the substantial question of law no.(8) is not admitted. Learned Advocate for the appellant shall file requisite number of informal paper books prepared out of Court within a period of 10 (ten) weeks from date including therein all relevant papers and documents serving a copy thereof on the learned Advocate for the respondent. Let the appeal be listed after 12 (twelve) weeks. Since the respondent is represented by their learned Advocate, service of notice of this appeal on the respondent stands waived. Set ..... X X X X Extracts X X X X X X X X Extracts X X X X
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