2013 (1) TMI 938

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....A, 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 transportation of passengers, cargo, etc....

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....isen 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 ₹ 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 of the Appellant. 3. For that ....

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....06-07 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) Judgment of Hon'ble Delhi High Court in the case of CIT vs. Shri Vardhman ....