2017 (5) TMI 1718

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.... 01. The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in setting aside the disallowance of Rs. 9,10,80,852/- on account of non-reconciliation of provision for Gratuity despite the fact that all the facts necessary for deciding the issue were submitted at the time of hearing of the appeal. 2.0 The learned Commissioner of income Tax (Appeals) has erred in law and on facts in setting aside the disallowance of Rs. 5,06,818/- on account of unpaid sales tax under section 43B of the IT Act despite the fact that all the facts necessary for deciding the issue were submitted at the time of hearing of the appeal. 3.0 The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in settin....

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.... grounds. We find that the action of the CIT(A) is just and proper as warranted in the circumstances of the case and cannot be faulted. Thus, we do not see any merit in the grievances raised by the assessee as per Ground Nos.1 to 3 of its appeal. Resultantly, Ground Nos.1, 2 & 3 are dismissed. 4. Ground No.4 concerns disallowance of prior period expenses of Rs. 53,53,28,278/-. In the course of hearing, the Ld.AR for the assessee Mr.J.P.Shah submitted that the assessee has credited prior period income of Rs. 68,45,01,805/- in its Profit & Loss account concerning the earlier years. Likewise, total prior period expenses of Rs. 1,21,98,30,083/- connected to earlier years have been debited during the year. Resultantly, the assessee has claime....

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....ion in the light of the decision of the Hon'ble Gujarat High Court(supra). The Ld.AR next submitted that similar issue arose in assessee's own case in ITA No.3796/Ahd/202 relevant to AY 1997-98 order dated 26/06/2009 where the issue was set aside to the file of AO adopting common sense approach. The Ld.AR accordingly pleaded for suitable relief. 5. The Ld.DR for the Revenue Mr.R.I.Patel, on the other hand, relied upon the order of authorities below and in furtherance submitted that the factual details concerning the expenses claimed requires to be verified which has not been placed on record before the lower authorities. 6. We have carefully heard the rival submissions and perused the orders of the authorities as well the case-laws re....