2017 (3) TMI 1788

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.... Revenue by : Shri Saurabh Kumar Rai -DR JUDGMENT Pawan Singh, 1. This appeal by assessee u/s.253 of the Income Tax Act (the Act) is directed against the order of Ld. Commissioner of Income-Tax(Appeals) [Ld. CIT(A)]21, Mumbai dated 19.11.010 for Assessment Year (AY) 2007-08. The assessee has raised only one ground of appeal is that the ld. CIT(A) erred in confirming the disallowance of....

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....ion of Mumbai Tribunal including Rashtriya Chemicals and Fertilizers Ltd. (ITA No. 3863/Mum/2006 dated 07.10.2008 and the decision of Delhi Tribunal in Escorts Limited vs. IAC (2004) 89 TTJ (Del) 221. The Ld. Authorized Representative (AR) of the assessee further argued that expenditure incurred by assessee is only 0.043% of total turnover of the assessee-company. The accounts of assessee-company ....

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....supra), wherein the expenses in dispute was .005% of total turnover of the assessee which was allowed of errors and omission being period expenses was allowed. The co-ordinate bench passed the following order: "8. We have considered the rival submissions and perused the record of the case. Admittedly, the assessee was following mercantile system of accounting and, therefore, all the accru....

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....count where the accounts for the relevant year may have been closed or the assessee's avenues for claiming these deductions in the relevant year have been exhausted the assessee would be entitled to claim such deduction in a subsequent year. Therefore, we are unable to come to any other conclusion and are of the opinion that no interference in the impugned order is called for. Accordingly, the gro....