TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tribunal allows assessee's appeal, directs Assessing Officer to await Apex Court's decision for adjudication.</h1> <h3>M/s. S.R. Batliboi & Associates LL P. Versus Assistant Commissioner of Income-tax, Circle-54, Kolkata.</h3> M/s. S.R. Batliboi & Associates LL P. Versus Assistant Commissioner of Income-tax, Circle-54, Kolkata. - TMI Issues:1. Disallowance of provision for leave encashment based on actuarial valuation for AY 2009-10.Detailed Analysis:The appeal was filed against the order of Ld. CIT(A)-6, Kolkata for the assessment year 2009-10. The sole ground of appeal was the disallowance of a sum of Rs. 60,17,025 for provision made for leave encashment in the current assessment year based on actuarial valuation. The issue was previously dealt with by the Tribunal in the assessee's own case for AY 2007-08. The Tribunal had set aside the orders of the authorities below and restored the matter back to the file of the Assessing Officer for adjudication in accordance with the decision of the Hon'ble Apex Court in the case of M/s. Exide Industries Ltd. The Tribunal directed the Assessing Officer to await the final outcome of the Hon'ble Apex Court in SLP (Civil) 22889 of 2008 in M/s. Exide Industries Ltd. case and decide the issue accordingly.The Ld. Counsel highlighted the previous Tribunal decision and requested the matter to be restored back to the file of the Assessing Officer. The Learned Departmental Representative did not raise any objection to this request. The Tribunal considered the submissions of both parties and perused the records of the case. In line with the previous decision on a similar issue, the Tribunal set aside the order of the Ld. CIT(A) and restored the matter back to the file of the AO for adjudication. The Assessing Officer was directed to await the final outcome of the Hon'ble Apex Court in SLP (Civil) 22889 of 2008 in M/s. Exide Industries Ltd. case and decide the issue as per the decision of the Hon'ble Apex Court in M/s. Exide Industries Ltd. The appeal of the assessee was allowed for statistical purposes.In conclusion, the Tribunal allowed the appeal of the assessee for statistical purposes and pronounced the order in the open court on 20.09.2017.
TaxTMI 
TaxTMI 
