(1) Bharath Earth Movers v. CIT

254 ITR 428Supreme Court of India#24149 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2019.

Judgments citing (1) Bharath Earth Movers v. CIT

HINDUSTAN PETROLEUM CORPORATION LTD,MUMBAI vs. ADDL CIT RG 1(1), MUMBAI

In the result we affirm the order of ld CIT(A) id affirmed and

ITA 5378/MUM/2010[2006-07]Status: DisposedITAT Mumbai09 Oct 2019AY 2006-07

Bench: Shri Shamim Yahya () & Shri Pawan Singh () Hindustan Petroleum The Addl.Cit, Range-1(1), Corporation Ltd., Mumbai 17, Jamashedji Tata Road, V/S Mumbai-400 020 Pan: Aaach1118B Appellant Respondent

Section 14ASection 37Section 37(1)

…ound No. 5 relates to deduction of leave encashment under section 43B. The ld. AR for the assessee submits that this expenditure was claimed during the assessment proceedings. The basis of deduction was the decision of Kolkata High Court in Exide Industries (254 ITR 428), wherein the provision of section 43B (f) was stuck down being arbitrary and unconscionable. The AO disallowed it by taking view that the claim was made after expiry of period of limitation for filing revised return under section 139(5). The Ld. DR relied upon the order of lower authorities. 18. We have considered the rival submissions of th…

PUNIT PROTEINS PVT. LTD.,,BARODA vs. THE ACIT, CIRCLE-4,, BARODA

In the result, appeal filed by the Assessee is allowed

ITA 3045/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad25 Jan 2019AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad)

For Appellant: Shri M. J. Shah, ARFor Respondent: Shri S. K. Dev, Sr. D.R

…e last assessment year and thus the liability was incurred in the last year itself. In such case, the expenses so incur cannot be denied. 8. In support of its contention, ld. A.R. has cited an order of Supreme Court in the case of Bharat Earth Movers vs. CIT 254 ITR 428 wherein it has been held: “If a business liability has definitely arisen in the accounting year, the deduction should be allowed although the liability may have to be quantified and discharged at a future date. What should be certain is the incurring of the liability. It should also be capable of being estimated -with reasonable certainty though…

ICICI VENTURE FUNDS MANAGEMENT COMPANY LIMITED,BANGALORE vs. DCIT, BANGALORE

ITA 321/BANG/2015[2010-11]Status: DisposedITAT Bangalore20 May 2016AY 2010-11

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raoassessment Year : 2010-11

For Appellant: Shri H.N. Khincha, CAFor Respondent: Shri Sunil Kumar Agarwala, Jt. CIT(DR)

…n the claims submitted to the appellant company. Therefore, the liability has crystallized during the previous year relevant to assessment year under consideration and in this connection he relied on the following decisions:- (1) Bharath Earth Movers v. CIT, 254 ITR 428 (SC) (2) CIT v. Oswal Woollen Mills Ltd. (2002) 254 ITR 66 (P&H) (3) Escorts Mahle Ltd. v. DCIT, 309 ITR (AT) 181 (Del) 6. On the other hand, the ld. Sr. DR relied on the orders of lower authorities. 7. We have heard the rival submissions and perused the material on record. From a perusal of the details submitted, it is clear that provisions ar…