Tribunal upholds deduction restriction under sec. 36(1)(viia) for assessment years 2012-13 and 2013-14 The Tribunal dismissed the assessee's appeals related to the deduction u/s. 36(1)(viia) for the assessment years 2012-13 and 2013-14, upholding the ...
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Tribunal upholds deduction restriction under sec. 36(1)(viia) for assessment years 2012-13 and 2013-14
The Tribunal dismissed the assessee's appeals related to the deduction u/s. 36(1)(viia) for the assessment years 2012-13 and 2013-14, upholding the restriction of the deduction to the extent of the provision in the books of account. The Tribunal referred to Chapter XIV-A of the Income-tax Act, emphasizing the avoidance of repetitive appeals. The appeals were dismissed in accordance with sec. 158A(4), with the provision for necessary amendments after the High Court's decision.
Issues: - Appeal by assessee for assessment years 2012-13 and 2013-14 regarding deduction u/s. 36(1)(viia) - Interpretation of Chapter XIV-A of the Income-tax Act
Analysis: 1. The appeals by the assessee were related to the deduction u/s. 36(1)(viia) for the assessment years 2012-13 and 2013-14. The main issue raised by the assessee was against the restriction of the deduction to the extent of the provision in the books of account. 2. The assessee's representative argued that a similar issue had been decided against the assessee by the Tribunal in previous years, and the High Court had admitted the assessee's ground against the Tribunal's order on this issue. A request was made to keep the issue alive pending the High Court's decision. 3. The Tribunal, considering the precedent where a similar issue had been decided against the assessee, upheld the impugned orders restricting the claim of deduction u/s. 36(1)(viia) to the extent of the provision in the books of account. 4. The Tribunal referred to Chapter XIV-A of the Income-tax Act, which deals with avoiding repetitive appeals and contains only one section, 158A. The Tribunal admitted that the question of law in the instant appeal was identical to the one pending before the High Court. Consequently, the appeals of the assessee were dismissed in accordance with sec. 158A(4), with the provision to make necessary amendments as per sec. 158A(5) after the High Court's decision. 5. Ultimately, the Tribunal dismissed the appeals of the assessee, pronouncing the order in the Open Court on 29th October 2018.
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