2018 (6) TMI 500

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....ER N.K. BILLAIYA, ACCOUNTANT MEMBER With this appeal, the assessee has challenged the correctness of the order of the CIT(A) - X, New Delhi dated 25.07.2013 pertaining to A.Y 2006-07. 2. The solitary grievance of the assessee is that the ld. CIT(A) has erred in rejecting the application u/s 154 of the Income-tax Act, 1961 [hereinafter referred to as 'the Act' for short] challenging t....

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....ance on account of wrong claim of LTA and depreciation by the appellant during the relevant assessment year. With regard to the claim of LTA, it has been argued by the A.R. that there has been a change in the method of accounting and the LTA has now been claimed on accrual basis by treating it as a provision for LTA. The A.O. had, however, disallowed the provision for LTA and added it to the incom....

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....the assessee and the same needs to be rectified. The ld. CIT(A) dismissed the rectification application of the assessee by observing as under: "After considering the submissions of the ld. counsel for the assessee, the claim of the appellant was not found tenable since the facts are different from Apex Court decision of Rotork Controls Ltd 314 ITR [Supreme Court]. Therefore, this applicat....

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....into by the ld. CIT(A). The assessee has also given sound reasons for change in the method of accounting and providing LTA on acturial basis which is based on the valuation of perquisites offered to the employees as part of overall packaging and accounted for as a short term provision since LTA has to be availed by the employee in every block of two years and has to be disbursed by the employer as....