2013 (1) TMI 938

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....EVENUE BY : SMT. ANURADHA MISRA, CIT DR ORDER PER B.C. MEENA, ACCOUNTANT MEMBER : This appeal filed by the assessee emanates from the order of CIT (Appeals)-IV, New Delhi dated 09.03.2012. 2. The assessee is a 100% wholly owned subsidiary of Air India Limited (earlier known as National Aviation Company of India Limited - NACIL). The assessee company was engaged in the business of trans....

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....s a deduction and such benefit has arisen by way of remission/cessation of the liability without appreciating the fact that the act of write off by NACIL did not prejudice their right to recover the amount of Rs. 306,75,17,000/- from the appellant in future and even despite the fact that the Appellant continues to recognize the liability and resultantly the amount was not written back in the books....

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....ishna - ITA No.835/Bang/2010 for Assessment Year 2006-07 dated 08.04.2011; (ii) Judgment of Hon'ble Karnataka High Court in the case of CIT vs. Karnataka Breweries & Distilleries P. Ltd. - ITA No.12/2005 dated 09.12.2009; (iii) Judgment of Hon'ble Delhi High Court in the case of CIT vs. Hotline Electronics Ltd. - ITA No.1073/2011 dated 23.12.2011; and (iv) Judgme....