Bharat Earth Movers v. CIT

245 ITR 428Supreme Court of India2000#52 most cited

What is Bharat Earth Movers v. CIT authority for?

A business liability that has definitely arisen in an accounting year is deductible even if it needs to be quantified and discharged later, as long as its incurring is certain and can be reasonably estimated.

901

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2006 to 2026.

Also referred to as

Bharat Earth Movers v CIT · 245 ITR 428 · ascertainable liability · unascertainable liability · accrued liability · provision for expenses · deduction · accounting year · future discharge

Also reported as

112 Taxmann 616 SCC 645162 CTR 325

Sections most often in play

Section 37(1)Section 143(3)Section 115JBSection 14ASection 40(a)(ia)Section 195Section 148Section 1961
Read the full judgment

Issues it is cited on

section 35dmercantile system of accountingenduring benefitintangible assetssection 40(a)(i)section 35revenue expenditurebook profitssection 37(1)section 115jbamalgamationsection 37

Judgments citing Bharat Earth Movers v. CIT

Infosys Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the assessee and revenue stands partly allowed as indicated hereinabove

ITA 449/BANG/2015[2010-11]Status: DisposedITAT Bangalore30 Nov 2022AY 2010-11

Bench: Shri Chandra Poojaria & Smt. Beena Pillai

Section 10ASection 40

…ready pointed out this principle is to be applied keeping in view the principles of prudence and applicable Accounting Standards. In our opinion, the complete answer has been given long back by the Hon'ble Supreme Court in the case of Bharat Earth Movers Ltd, 245 ITR 428 (SC), wherein, it was held that the provision made by the assessee for meeting the liability incurred by it under the leave encashment scheme proportionate with the entitlement earned by the employees of the company was entitled to deduction out of the gross receipts of the accounting year in which the provisions were made. 55. Ld CIT D.R. has al…

M/S Raj Auto Wheels P Ltd., Ajmer vs. ACIT, Circle-1, Ajmer

In the result, the appeal of the assessee is party allowed

ITA 396/JPR/2015[2010-11]Status: DisposedITAT Jaipur09 Nov 2022AY 2010-11
For Appellant: Shri Mahendra Gargieya, AdvocawteFor Respondent: Shri P.R. Meena, C IT-DR

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Mk0 ehBk yky ehuk] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & DR MEETHA LAL MEENA, AM vk;dj vihy la-@ITA No. 396/JP/2015 fu/kZkj.k o"kZ@Assessment Year : 2010-11 cuke M/s. Raj Auto Wheels (P) Ltd The ACIT 424/24, Ravan Bahici, Kaiser Ganj Vs. Circle-1 Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AADCR 3896 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri Mahendra Gargieya, Advocawte jktLo dh vksj ls@Revenue by: Shri P.R.…

DCIT-Ltu - 2, Mumbai vs. Ambuja Cements Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2958/MUM/2019[2010-11]Status: DisposedITAT Mumbai07 Nov 2022AY 2010-11
Section 143(3)Section 14A

…he rival contentions and having perused the material on record, we are of the considered view that the stand of the Assessing Officer is unsustainable in law in view of the Hon‟ble Supreme Court‟s judgment in the case of Bharat Earth Movers Ltd Vs CIT [(2000) 245 ITR 428 (SC)] wherein Their Lordships have observed that “we are satisfied that the provision made by the appellant-company for meeting the liability incurred by it under the leave encashment scheme proportionate with the entitlement earned by employees of the company, inclusive of the officers and the staff, subject to the ceiling on accumulation as app…

National Fertilizers Ltd., New Delhi vs. Addl. CIT, Range- 18, New Delhi

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 1148/DEL/2018[2011-12]Status: DisposedITAT Delhi02 Nov 2022AY 2011-12

Bench: Shri Anil Chaturvedia N D Shri Challa Nagendra Prasad

For Appellant: Shri Aman Garg, C. AFor Respondent: [CIT] – D. R
Section 43B

…CIT(A) who came to the conclusion that it was not an item of deduction covered under Section 43B of the Act. The ITAT in the impugned Cross I.T.A. Nos. 1148 & 1041/Del/2018 order followed the decision of the Supreme Court in Bharat Earth Movers v CIT [20001 245 ITR 428 (SC) and the decision of this Court in CIT vs. Bharat Heavy Electrical Ltd. [2013] 352 ITR 88 (Del) and upheld the order of the CIT (A). 7. The Court's attention is drawn by learned counsel for the Assessee to the decision in CIT v Ranbaxy Laboratories Ltd. (2011) 334 ITR 341 (Del). The ratio of the above decision is that where there are actuaria…

ACIT, Circle- 17(2), New Delhi vs. National Fertilizers Ltd., New Delhi

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 1041/DEL/2018[2011-12]Status: DisposedITAT Delhi02 Nov 2022AY 2011-12

Bench: Shri Anil Chaturvedia N D Shri Challa Nagendra Prasad

For Appellant: Shri Aman Garg, C. AFor Respondent: [CIT] – D. R
Section 43B

…CIT(A) who came to the conclusion that it was not an item of deduction covered under Section 43B of the Act. The ITAT in the impugned Cross I.T.A. Nos. 1148 & 1041/Del/2018 order followed the decision of the Supreme Court in Bharat Earth Movers v CIT [20001 245 ITR 428 (SC) and the decision of this Court in CIT vs. Bharat Heavy Electrical Ltd. [2013] 352 ITR 88 (Del) and upheld the order of the CIT (A). 7. The Court's attention is drawn by learned counsel for the Assessee to the decision in CIT v Ranbaxy Laboratories Ltd. (2011) 334 ITR 341 (Del). The ratio of the above decision is that where there are actuaria…

Idea Cellular Ltd, Mumbai vs. DCIT 3(2), Mumbai

In the result, appeal of the Revenue in ITA No

ITA 2285/MUM/2014[2008-09]Status: DisposedITAT Mumbai12 Oct 2022AY 2008-09
Section 143(3)Section 194HSection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘I-2‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Vodafone Idea Ltd., Vs. Dy. Commissioner of (Formerly known as Idea Income Tax-3(2) Cellular Ltd.,) Mumbai 10th Floor, Birla Centurian Room NO.608, 6th Floor Mills Compound Aaykar Bhawan Pandurang Budhkar Marg M.K.Road, Worli, Mumbai – 400 030 Mumbai – 400 020 PAN/GIR No.AAACB2100P (Appellant) .. (Respondent) Dy. Commissioner of Vs. M/s. Vodafone Idea Ltd., Income Tax-3(2) (Formerly known as Idea Mumbai Cellular Ltd.,) Room NO.608, 6th Floor 10th Floor, Birla Centuria…

DCIT 3(2), Mumbai vs. Idea Cellular Ltd, Mumbai

In the result, appeal of the Revenue in ITA No

ITA 2273/MUM/2014[2008-09]Status: DisposedITAT Mumbai12 Oct 2022AY 2008-09
Section 143(3)Section 194HSection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘I-2‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Vodafone Idea Ltd., Vs. Dy. Commissioner of (Formerly known as Idea Income Tax-3(2) Cellular Ltd.,) Mumbai 10th Floor, Birla Centurian Room NO.608, 6th Floor Mills Compound Aaykar Bhawan Pandurang Budhkar Marg M.K.Road, Worli, Mumbai – 400 030 Mumbai – 400 020 PAN/GIR No.AAACB2100P (Appellant) .. (Respondent) Dy. Commissioner of Vs. M/s. Vodafone Idea Ltd., Income Tax-3(2) (Formerly known as Idea Mumbai Cellular Ltd.,) Room NO.608, 6th Floor 10th Floor, Birla Centuria…

Raghuleela Builders Pvt Ltd, Mumbai vs. Dict, Circle-1(2), Pune

Appeal is dismissed in above terms

ITA 1885/PUN/2019[2011-12]Status: DisposedITAT Pune07 Oct 2022AY 2011-12

Bench: Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No.1885/Pun/2019 िनधा"रण वष" / Assessment Year: 2011-12 Raghuleela Builders Pvt. Vs. Dcit, Circle-1(2), Pune. Ltd., 1401, A-Wing, One Bkc, Plot C-66, G Block, Bandra Kurla Complex, Bandra East, Mumbai- 400051. Pan : Aadcr5942E Appellant Respondent Assessee By : None Revenue By : Shri M. G. Jasnani Date Of Hearing : 28.09.2022 Date Of Pronouncement : 07.10.2022 आदेश / Order Per S. S. Godara, Jm: This Assessee’S Appeal For Assessment Year 2011-12 Arises Against The Cit(A)-13, Pune’S Order Dated 22.07.2019 Passed In Case No. Pn/Cit(A)-13/Dcit Circle-1(2), Pune/623/2014-15/227, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short “The Act”. Case Called Twice. None Appears At Assessee’S Behest. The Very Factual Position Had Existed On 30.05.2022 & 21.07.2022 As Well. We Thus Proceed Ex-Parte Against The Assessee.

For Appellant: NoneFor Respondent: Shri M. G. Jasnani
Section 143(3)Section 37Section 37(1)

…on account of expenses had not been crystalized during the relevant period, the same could not be allowed as deduction in the year under reference. The learned AR also relied upon the decision of Hon’ble Supreme Court in the case of Bharat Earth Movers vs CIT 245 ITR 428 for a preposition that 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. It was held by the Supreme Court that what should be certain is the incurring of the liability. It should also be capable of being estimated…

ACIT, Circle - 1, Ltu, Kolkata vs. M/S. United Bank of India, Kolkata

In the result, the appeal of the revenue is dismissed and the cross-objection of the assessee is also dismissed as not pressed

ITA 992/KOL/2019[2010-11]Status: DisposedITAT Kolkata29 Sept 2022AY 2010-11

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

Section 43B

…n for such liability was required to be taken into account for arriving at the commercial profit. In arriving at this conclusion, the Tribunal relied on the decision of the Hon'ble Supreme Court in the case of Bharat Earth Movers Limited -vs.- CIT reported in 245 ITR 428, wherein it was held by the Hon'ble Apex Court that 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. It was held that what should be certain is the incurring of the liability which should be capable of being esti…

DCIT, Circle - 3(1), Kolkata vs. M/S. the Tinplate Company of India Limited, Kolkata

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

ITA 1595/KOL/2018[2010-11]Status: DisposedITAT Kolkata29 Sept 2022AY 2010-11

Bench: Shri Rajpal Yadav, Vice-(Kz)& Shri Rajesh Kumar]

Section 139(1)Section 43B

…her benefits payable to the directors of the company on scientific basis by following the mercantile system of accounting and therefore has to be allowed by following the decision of Hon’ble Supreme Court in the case of Bharat Earth Movers vs. CIT reported in 245 ITR 428 (SC) and Metal Box Company of India Ltd. vs. Their Workman reported in 73 ITR 53 (SC) wherein it has been provided that any liability though payable in future should be allowed on accrual basis. Accordingly, we set aside the findings of the Ld. CIT(A) on this issue and direct the AO to allow the deduction of Rs. 40 Lakhs. The ground no. 2 is allo…

The Tinplate Company of India Limited, Kolkata vs. DCIT, Circle - 3, Kolkata

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

ITA 1070/KOL/2018[2010-11]Status: DisposedITAT Kolkata29 Sept 2022AY 2010-11

Bench: Shri Rajpal Yadav, Vice-(Kz)& Shri Rajesh Kumar]

Section 139(1)Section 43B

…her benefits payable to the directors of the company on scientific basis by following the mercantile system of accounting and therefore has to be allowed by following the decision of Hon’ble Supreme Court in the case of Bharat Earth Movers vs. CIT reported in 245 ITR 428 (SC) and Metal Box Company of India Ltd. vs. Their Workman reported in 73 ITR 53 (SC) wherein it has been provided that any liability though payable in future should be allowed on accrual basis. Accordingly, we set aside the findings of the Ld. CIT(A) on this issue and direct the AO to allow the deduction of Rs. 40 Lakhs. The ground no. 2 is allo…

Novartis India Ltd, Mumbai vs. Addl CIT RG 7(1), Mumbai

In the result, appeal filed by the assessee is partly allowed as stated above

ITA 7644/MUM/2012[2008-09]Status: DisposedITAT Mumbai28 Sept 2022AY 2008-09

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Novartis India Limited Addl. Cit, Range 7(1) V. Aayakar Bhavan, M.K. Road Sandoz House, Dr. Annie Besant Road Worli, Mumbai - 400018 Mumbai Pan: Aaach2914F Appellant Respondent Assessee Represented By : Shri Rajan Vora & Shri Pranay Gandhi Revenue Represented By : Shri Rajneesh Yadav

Section 144C(5)Section 35DSection 92C(2)

…upport of contention that provisions on best estimate should be allowed as deduction Ld. AR relied on following case laws: - (i). Rotork Controls India (P) Limited (314 ITR 62)(SC) (ii). JCIT vs ITC LTD (112 ITD 57) (KOL SB) (iii). Bharat Earth Movers vs CIT (245 ITR 428)(SC) 57. Further, relying on following case laws, Ld.AR submitted that the disallowance of excess and short year end provisions is revenue-neutral accordingly, no addition on account of the same is warranted. (i). Excel Industries Limited (358 ITR 295) (Supreme Court); (ii). Nagri Mills Ltd (33 ITR 681) (Bombay High Court); and (iii). Vishnu Ind…

DCIT, Circle-4(1), Bhubaneswar vs. M/S. the Orissa State Co-Operative Milk Producers Federation Ltd., Bhubaneswar

In the result, appeal of the revenue is partly allowed for statistical purposes

ITA 319/CTK/2017[2009-10]Status: HeardITAT Cuttack20 Sept 2022AY 2009-10

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2009-10 Dcit, Circle Dcit, Circle-4(1), Vs. The Orissa State Co The Orissa State Co-Op.Milk Bhubaneswar. Bhubaneswar. Producers Federation Ltd., Producers Federation Ltd., D-2, 2, Sahid Sahid Nagar, Nagar, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabtt 3220 G (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri B.K.Mahapatra, Ca B.K.Mahapatra, Ca Revenue By : Shri M.K.Gautam, Cit M.K.Gautam, Cit Dr Date Of Hearing : 21 /9 9/2022 Date Of Pronouncement : 21/9 9/2022 O R D E R Per Bench This Is An Appeal Filed By The Revenue Against The Order Of The Ld Against The Order Of The Ld Cit(A)-2, Bhubaneswar 2, Bhubaneswar Dated 31.5.2017 In Appeal No In Appeal No.0251/2015-16 For The Assessment Year For The Assessment Year 2009-2010. 2. Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue & Shri Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue & Shri Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue & Shri B.K.Mahapatra, Ld Ar Appeared For The Assessee. B.K.Mahapatra, Ld Ar Appeared For The Assessee.

For Appellant: Shri B.K.Mahapatra, CAFor Respondent: Shri M.K.Gautam, CIT
Section 43B

…ndation for making the provision and consequently, a scientific approach had been done and the issue was no more a contingent liability. It was the submission that in view of the decision of the Hon’ble Supreme Court in the case of Bharat Earth Movers vs CIT, 245 ITR 428 (SC), the issue was liable to be held in the favour of the assessee. Ld AR also relied on the decision of the Hon’ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd., vs ACIT (2020) 115 taxmann.com 166 (Del)to support his contention. 11. We have considered the rival submissions. We find that the issue is covered by t…

Csb Bank Ltd., Thrissur vs. DCIT Circle 1(1) & Tps Thrissur, Thrissur

In the result, both the appeals of the assessee are dismissed

ITA 563/COCH/2022[2017-2018]Status: DisposedITAT Cochin14 Sept 2022AY 2017-2018

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Shri C. Naresh, A.RFor Respondent: Shri Shantam Bose, D.R
Section 143(3)Section 14ASection 263Section 438Section 43B

…eu of any leave at the credit of the employee” during the previous year, ITA Nos.84/Coch/2021 & CSB Bank Ltd., Thrissur Page 4 of 15 section 43B(f) is not applicable in respect of such provision. 4. In the case of M/s. Bharat Earth Movers Ltd. Vs. CIT(2000) 245 ITR 428(SC), the Hon’ble Supreme Court held that the global provision made towards the liability incurred under the leave encashment scheme shall be allowable as a deduction in the same year irrespective of when such liability is being discharged by the assessee. 2.2 Addition in respect of provision of fraud 1. The assessee bank made a provision for fr…

Csb Bank Ltd ( Formerly the Catholic Srian Bank Ltd, Thrissur vs. The Pr CIT, Kozhikkode

In the result, both the appeals of the assessee are dismissed

ITA 84/COCH/2021[2016-17]Status: DisposedITAT Cochin14 Sept 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Shri C. Naresh, A.RFor Respondent: Shri Shantam Bose, D.R
Section 143(3)Section 14ASection 263Section 438Section 43B

…eu of any leave at the credit of the employee” during the previous year, ITA Nos.84/Coch/2021 & CSB Bank Ltd., Thrissur Page 4 of 15 section 43B(f) is not applicable in respect of such provision. 4. In the case of M/s. Bharat Earth Movers Ltd. Vs. CIT(2000) 245 ITR 428(SC), the Hon’ble Supreme Court held that the global provision made towards the liability incurred under the leave encashment scheme shall be allowable as a deduction in the same year irrespective of when such liability is being discharged by the assessee. 2.2 Addition in respect of provision of fraud 1. The assessee bank made a provision for fr…

M/S Bosch Limited, Bangalore vs. Assistant Commissioner of Income Tax Ltu Circle-1, Bangalore

In the result, appeal of the assessee is partly allowed

ITA 1629/BANG/2018[2013-14]Status: DisposedITAT Bangalore13 Sept 2022AY 2013-14

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sassessment Year : 2013-14 Bosch Limited, Vs. The Assistant Commissioner Hosur Road, Adugodi, Of Income Tax, Ltu, Bangalore – 560 030. Circle 1, Pan: Aaacm 9840P Bangalore. Appellant Respondent Appellant By : Shri Percy Pardiwala, Advocate Respondent By : Shri V S Chakrapani, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 01.09.2022 Date Of Pronouncement : 13.09.2022 O R D E R Per Padmavathy S.2. This Appeal Is Against The Order Of The Cit(Appeals), Bangalore-9, Bangalore Dated 31.3.2018 For The Assessment Year 2013- 14. 3. The Assessee Raised Grounds Pertaining To The Following Issues:- Deduction U/S. 35(2Ab) Computed On Net Expenditure As Opposed To Gross Expenditure Disallowance Of Provision For Bad & Doubtful Debts I) Disallowance Of Provision For Long Term Service Award Disallowance Of Expenditure U/S. 14A Of The Act Ii) Page 2 Of 67

For Appellant: Shri Percy Pardiwala, AdvocateFor Respondent: Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru
Section 14ASection 35Section 37Section 43BSection 80J

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2013-14 Bosch Limited, Vs. The Assistant Commissioner Hosur Road, Adugodi, of Income Tax, LTU, Bangalore – 560 030. Circle 1, PAN: AAACM 9840P Bangalore. APPELLANT RESPONDENT Appellant by : Shri Percy Pardiwala, Advocate Respondent by : Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru. Date of hearing : 01.09.2022 Date of Pronouncement : 13.09.2022 O R D E R Per Padmavathy S., Accountant Member 2. This appeal is against the order of the CIT(Appeals), Bangalo…

M/S. Odisha Power Generation Corporation Limited, Bhubaneswar vs. DCIT, Corporate Circle-1(2), Bhubaneswar

In the result, appeal of the assessee is partly allowed

ITA 131/CTK/2019[2014-15]Status: DisposedITAT Cuttack12 Sept 2022AY 2014-15

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…own by the Hon’ble Supreme Court of Rotork Control India P Ltd. v. CIT (314 ITR 62) (SC). It was his submission that same was liable to be allowed in view of the decision of Full Bench of Hon’ble Supreme Court in the case of Bharat Earth Movers Vs. CIT, (2000)245 ITR 428(SC) . 43. In reply, ld CIT DR submitted that the notes to the account being Schedule -20 to profit and loss account showed the amount was in the nature of provision and the said provision was pending finalisation of modality for payment in respect of computation of the performance bonus or performance incentives. It was the submission that the s…

M/S. Odisha Power Generation Corporation Limited, Bhubaneswar vs. DCIT, Corporate Circle-1(2), Bhubaneswar

In the result, appeal of the assessee is partly allowed

ITA 130/CTK/2019[2013-14]Status: DisposedITAT Cuttack12 Sept 2022AY 2013-14

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…own by the Hon’ble Supreme Court of Rotork Control India P Ltd. v. CIT (314 ITR 62) (SC). It was his submission that same was liable to be allowed in view of the decision of Full Bench of Hon’ble Supreme Court in the case of Bharat Earth Movers Vs. CIT, (2000)245 ITR 428(SC) . 43. In reply, ld CIT DR submitted that the notes to the account being Schedule -20 to profit and loss account showed the amount was in the nature of provision and the said provision was pending finalisation of modality for payment in respect of computation of the performance bonus or performance incentives. It was the submission that the s…

M/S. Odisha Power Generation Corporation Ltd., Bhubaneswar vs. ACIT, Corporate Circle-1(2), Bhubaneswar

In the result, appeal of the assessee is partly allowed

ITA 64/CTK/2017[2009-10]Status: DisposedITAT Cuttack12 Sept 2022AY 2009-10

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…own by the Hon’ble Supreme Court of Rotork Control India P Ltd. v. CIT (314 ITR 62) (SC). It was his submission that same was liable to be allowed in view of the decision of Full Bench of Hon’ble Supreme Court in the case of Bharat Earth Movers Vs. CIT, (2000)245 ITR 428(SC) . 43. In reply, ld CIT DR submitted that the notes to the account being Schedule -20 to profit and loss account showed the amount was in the nature of provision and the said provision was pending finalisation of modality for payment in respect of computation of the performance bonus or performance incentives. It was the submission that the s…

ACIT, Corporate Circle-1(2), Bhubaneswar vs. M/S. Orissa Power Generation Corporation Ltd., Bhubaneswar

In the result, appeal of the assessee is partly allowed

ITA 288/CTK/2016[2011-12]Status: DisposedITAT Cuttack12 Sept 2022AY 2011-12

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…own by the Hon’ble Supreme Court of Rotork Control India P Ltd. v. CIT (314 ITR 62) (SC). It was his submission that same was liable to be allowed in view of the decision of Full Bench of Hon’ble Supreme Court in the case of Bharat Earth Movers Vs. CIT, (2000)245 ITR 428(SC) . 43. In reply, ld CIT DR submitted that the notes to the account being Schedule -20 to profit and loss account showed the amount was in the nature of provision and the said provision was pending finalisation of modality for payment in respect of computation of the performance bonus or performance incentives. It was the submission that the s…