2006 (1) TMI 535

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.... Sudhakar Reddy, Accountant Member. - This is an appeal filed by the Revenue, directed against the order of the CIT (Appeals)-V (Cent.), Hyderabad, dated 30-11-2000, for the assessment year 1997-98. 2. Ground No. 1 in this appeal is general in nature. 3. Ground Nos. 2 and 3 are against the finding of the first appellate authority that the provisions of section 80HHC(4) are only directory in natu....

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....of Hemsons Industries ( supra). Full Bench of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Punjab Financial Corporation [2002] 254 ITR 63, has taken a similar view. Respectfully following the same, we uphold the order of the first appellate authority. 5. Ground No. 4 is against the finding of the first appellate authority that the bonus payment of Rs. 41,084 has to be allowed as ....

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....asons given by him. It is well-settled that entries in the books do not govern the allowability or otherwise of an expenditure. This ground of the Revenue is, therefore, dismissed. 7. Ground Nos. 6 to 9 are against the finding of the first appellate authority on the issue of disallowance of Rs. 6,39,720 being excise duty payment, under section 43B of the Act. The Assessing Officer, while admittin....

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....cialities Ltd. [1994] 49 ITD 21 (Delhi)(SB). 8. The learned departmental representative placed reliance on the decision of the Special Bench of the Tribunal in the case of Dy. CIT v. CWC Wines (P.) Ltd. [2004] 89 ITD 1 (Hyd.). The learned counsel for the assessee submits that the order in the case of CWC Wines (P.) Ltd. (supra) is concerned with certain payments which were made though not actuall....