2021 (10) TMI 1057

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....e Revenue arise out of the separate orders dated 28-10-2016 & 10-01-2017 passed by the CIT(A)-4, Pune in relation to the assessment years 2012-13 and 2013-14 respectively. Since the issues raised in these appeals are common, we are, therefore, proceeding to dispose them off by this consolidated order for the sake of convenience. A.Y.2012-13 : 2. The first issue raised by the Revenue in this appe....

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....r years, referred to by the AO for setting off against the current year's qualifying income from the eligible unit, relate to the years prior to the initial year. Obviously, such losses cannot be set off against the income from the wind mill on or after the initial year. Similar issue came up for consideration before the Tribunal in the case of the assessee for earlier years. Vide order dated 25-0....

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....ication of the Central Government in terms of section 12 of Wage Act dated 11-11-2011, the assessee revised its claim pertaining to the year under consideration. The AO observed that no corresponding payment was made during the F.Y. 2011-12. Though such payment was claimed to have been made in the period relevant to the A.Y. 2014-15, the AO disallowed the same. The ld. first appellate authority ov....

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....vt. notifying the recommendations of the Wags Board pertaining to the year under consideration amounted to Rs. 6.26 crore, in our considered opinion, the same has to be allowed under the mercantile system of account followed by the assessee. The fact that the payment was made in subsequent years cannot mar the deductibility of the amount which pertains to and became payable during the year. We, th....