2013 (8) TMI 1134

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....venue : Shri Guru Bhashyam, JCIT For the Assessee : Shri K. Santhanakrishnan, C.A. ORDER PER VIKAS AWASTHY, JUDICIAL MEMBER The appeal has been filed by the Revenue against the order of the Commissioner of Income Tax (Appeals)-V, Chennai dated 25-02-2013 relevant to the Assessment Year (AY) 2006-07. 2. The assessee is a Public sector Transport Undertaking. The assessee filed return ....

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....l before the CIT(Appeals). The CIT(Appeals) observed that the provision for wage arrears was made as per wage settlement, therefore, it is an ascertained liability. The CIT(Appeals) directed the Assessing Officer to allow the same after verification. Now, the Revenue has come in appeal against the order of the CIT(Appeals). 3. Shri Guru Bhashyam, JCIT appearing on behalf of the Revenue reiterat....