https://www.taxtmi.com/caselaws?id=179337 The Tribunal partly allowed the appeal of the assessee for statistical purposes. The Tribunal directed the assessing officer to verify and reconcile the depreciation amount discrepancy and upheld the addition directed by the CIT. Regarding the provision for mine closure obligation, the Tribunal disagreed with the CIT's characterization of it as a contingent liability, emphasizing that it was an allowable deduction for an accrued existing liability. The Tribunal set aside the CIT's order under section 263 and reinstated the AO's decision. The Tribunal's decision was rendered on 18/05/2012. en-us Fri, 18 May 2012 00:00:00 +0530 Fri, 07 Jul 2017 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179337 The Tribunal partly allowed the appeal of the assessee for statistical purposes. The Tribunal directed the assessing officer to verify and reconcile the depreciation amount discrepancy and upheld the addition directed by the CIT. Regarding the provision for mine closure obligation, the Tribunal disagreed with the CIT's characterization of it as a contingent liability, emphasizing that it was an allowable deduction for an accrued existing liability. The Tribunal set aside the CIT's order under section 263 and reinstated the AO's decision. The Tribunal's decision was rendered on 18/05/2012. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179337