2009 (5) TMI 27

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.... a Division Bench of the Rajasthan High Court at Jodhpur, this appeal has been filed. The questions raised before the High Court are as follows:  (1) Whether on the facts and in the circumstances of the case, the I.T.A.T. was justified in holding that the unpaid amount of bottling fee has, on furnishing of the bank guarantee, to be treated as actual payment and accordingly allowing the ded....

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....shed or destroyed? 2. The dispute in essence related to the applicability of Section 43B of the Income Tax Act, 1961 (in short the `Act') The High Court held that the provision has no application. 3. The dispute relates to the assessment year 1992-93. So far as the first two questions are concerned, we have dealt with the issues in Civil Appeal No.3511 of 2007 relating to the assessment year....

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....e assessee on the other hand submitted that the Saravana's case (supra) related to a case under Section 31, obviously relatable to current repairs. The assessee's claim on the other hand is relatable to Section 37 of the Act. Strong reliance is placed on a decision of this Court in Commissioner of Income Tax v. Ramaraju Surgical Cotton Mills ((2007)(294) ITR 328 (SC)). It is fairly accepted by lea....