2023 (11) TMI 595

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....he Respondents : Mr. Suresh Kumar. P.C. : 1. Since the pleadings are completed, with the consent of counsel we decided to take up the petition for final hearing at the this stage itself. 2. Rule. Rule made returnable forthwith. 3. Petitioner has impugned a notice dated 30th March 2021 issued under Section 148 of the Income Tax Act, 1961 (the Act) and the order dated 15th December 2021 ....

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....xpenses), the assessee had debited provision for employee related disputes to the extent of Rs. 3,10,00,000. However, in the statement of computation of income, while arriving at the income as per normal provisions, only an amount of Rs. 2,80,00,000 was added as VRS employee court cases. As the above amount of Rs. 3,10,00,000 is a provisional liability, the remaining provision debited in the profi....

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....ed 30th March 2021. Hence the proviso will apply. 7. From the reasons as quoted above, it is quite clear that the material on which the Assessing Officer (A.O.) has relied upon are those available from the documents filed by petitioner. The reasons state "As seen from the Profit & Loss Account (Notes 26 - Movement Employee Benefits Expenses), assessee had debited provision for employee related ....

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....lf indicates that the material fact was picked up from the Profit & Loss Account Notes 26 and the statement of computation of income while arriving at the income as per normal provisions. The reasons does not also state that the material fact was embedded in such a manner that material evidence could not be discovered. It is settled law that what is not there in the reasons cannot be improved upon....