TaxTMI 
TaxTMI 
2017 (9) TMI 1163
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....njay Kumar Mishra, Junior Standing Counsel. O R D E R C.M. No. 33771/2017 (exemption) 1. Allowed, subject to all just exceptions. ITA No. 810/2017 2. This is an appeal by the Assessee under Section 260 A of the Income Tax Act 1961 ('Act') directed against the order dated 27th April 2017 of the Income Tax Appellate Tribunal ('ITAT') in ITA No. 3706/Del/2014 for Assessment Year ('AY') 2002-03. ....
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....) was determined at Rs. 5,02,31,196/-. The Appellant thereafter filed its revised return of income on 19th February 2003. 7. It is explained that in this AY 2002-03, the Assessee had written back in its Profit and Loss Account the provisions amounting to Rs. 13,26,92,937/- created by it in the earlier years and accordingly increased its income to that extent. In the computation of income under th....
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....reads as under: "I have examined the facts of the case along with the submission made by the AR. In this case, the appellant inadvertently added the reversal of provision instead of reducing the same from its taxable income. It was evident from the financial statement and computation of income of the earlier years that no deduction was claimed by the appellant in the year when, such provision was....
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....cted the claim of the Assessee merely on the technical ground. The ITAT held that the decision of this Court Jai Parabolic Springs (supra) would be applicable. Nevertheless, in spite of granting relief itself, the ITAT remanded the matter to the file of the CIT (A) "with direction to re-decide this ground strictly on merits, in accordance with law". 12. When the factual and legal position was cle....