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

De La Rue Cash Processing Solution Pvt. Ltd., Gurgaon vs. ACIT, Gurgaon

ITA 2671/DEL/2013[2008-09]Status: DisposedITAT Delhi03 Jul 2018AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 145A

…expected values of those warranty services during paid service periods and estimates of expenses to be incurred in providing these services. 8. The Ld. AR relied upon the decision of the Hon’ble Supreme Court in the case of Bharat Earth Movers vs CIT [2000] 245 ITR 428 wherein is held that if a business liability has arisen in an accounting year, the deduction should be allowed although the liability may have to be quantified and discharged at a future date. The Ld. AR also relied upon the decision of the Hon’ble Supreme Court in the case of Rotork Controls India (P) Ltd. v. CIT [2009] 314 ITR 62 wherein the Ho…

De La Rue Cash Systems India P, Ltd(Presently Known As - De La Rue Cash Processing Solutins P.Ltd, Gurgaon vs. ITO 1(1)(2), Mumbai

ITA 5017/MUM/2012[2007-08]Status: DisposedITAT Delhi03 Jul 2018AY 2007-08

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 145A

…expected values of those warranty services during paid service periods and estimates of expenses to be incurred in providing these services. 8. The Ld. AR relied upon the decision of the Hon’ble Supreme Court in the case of Bharat Earth Movers vs CIT [2000] 245 ITR 428 wherein is held that if a business liability has arisen in an accounting year, the deduction should be allowed although the liability may have to be quantified and discharged at a future date. The Ld. AR also relied upon the decision of the Hon’ble Supreme Court in the case of Rotork Controls India (P) Ltd. v. CIT [2009] 314 ITR 62 wherein the Ho…

ACIT 2(2)(2), Mumbai vs. Mahindra Sona Ltd, Mumbai

In the result, the appeal is partly allowed

ITA 5761/MUM/2016[2012-13]Status: DisposedITAT Mumbai29 Jun 2018AY 2012-13

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2012-13 & Assessment Year: 2013-14 The Asstt. Commissioner Of M/S Mahindra Sona Limited Income Tax, Circle-2(2)(2) Vs. Gateway Building, Apollo Room No. 545, 5Th Floor, Bunder, Mumbai-400001. Aaykar Bhavan, M.K. Road, Churchgate, Mumbai- 400020. Pan No. Aaacm3524A Appellant Respondent Revenue By : Ms. Arju Garodia, Dr Assessee By : Mr. Prasad Bapat, Ar Date Of Hearing : 25/05/2018 Date Of Pronouncement: 29/06/2018

For Appellant: Mr. Prasad Bapat, ARFor Respondent: Ms. Arju Garodia, DR
Section 143(3)Section 36(1)(iii)

…of facts 13. The assessee-company had made a provision of warranty period supplies amounting to Rs.1,19,87,565/-. The AO observed that the above claim is not sustainable as no liability has crystallized. He referred to the decision in Bharat Earth Movers Ltd. 245 ITR 428 (SC), wherein the issue was ESIC liability in respect of employees and then disallowed the above warranty provision of Rs.1,19,87,565/-, by following the order of his predecessor for the AY 2005-06. 14. In appeal, the Ld. CIT(A) followed the order of the Tribunal for the AY 2005-06 and also the order of his predecessor for the AYs 2009-10 and 201…

Indian Explosives Pvt. Ltd., Kolkata vs. The JCIT, R-11, Kolkata

Appeals are partly allowed

ITA 85/KOL/2016[2011-2012]Status: DisposedITAT Kolkata27 Jun 2018AY 2011-2012

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ] Assessment Years : 2010-11 Indian Explosives Limited Vs D.C.I.T. Circle-11(1), Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent) Assessment Year : 2011-12 Indian Explosives Limited Vs J.C.I.T. Range-11, Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent)

For Appellant: Shri Ravi Sharma, ARFor Respondent: G. Mallikarjuna, CIT, D/R
Section 143(3)Section 92C

…rual of the impugned expenditure in the relevant previous year, the same has to be held allowable in the assessment year in question only as per the hon’ble apex court’s land mark decision in the case of Bharat Earth Movers v.Commissioner of Income-tax [2000] 245 ITR 428 (SC). The assessee succeeds in its instant substantive ground. ITA No.418/Kol/2015 & ITA No. 85/Kol/2016 Indian Explosives Pvt. Ltd. A.Y.2010-11 & 2011-12 7 9. The assessee’s last grievance pleaded in this appeal challenges the disallowance of Rs.1,03,896/- while computing book profit u/s 115JB of the Act, when Section 14A r.w.r 8D disallowance…

Indian Explosives Ltd., Kolkata vs. DCIT, Cir-11(1), Kolkata

Appeals are partly allowed

ITA 418/KOL/2015[2010-2011]Status: DisposedITAT Kolkata27 Jun 2018AY 2010-2011

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ] Assessment Years : 2010-11 Indian Explosives Limited Vs D.C.I.T. Circle-11(1), Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent) Assessment Year : 2011-12 Indian Explosives Limited Vs J.C.I.T. Range-11, Kolkata 16C, Bepin Paul Road Kolkata – 700 026 (Pan: Aaaci 6548 N) (Appellant) (Respondent)

For Appellant: Shri Ravi Sharma, ARFor Respondent: G. Mallikarjuna, CIT, D/R
Section 143(3)Section 92C

…rual of the impugned expenditure in the relevant previous year, the same has to be held allowable in the assessment year in question only as per the hon’ble apex court’s land mark decision in the case of Bharat Earth Movers v.Commissioner of Income-tax [2000] 245 ITR 428 (SC). The assessee succeeds in its instant substantive ground. ITA No.418/Kol/2015 & ITA No. 85/Kol/2016 Indian Explosives Pvt. Ltd. A.Y.2010-11 & 2011-12 7 9. The assessee’s last grievance pleaded in this appeal challenges the disallowance of Rs.1,03,896/- while computing book profit u/s 115JB of the Act, when Section 14A r.w.r 8D disallowance…

ACIT, Circle-5(2), Kolkata vs. The Bisra Stone Lime Co Ltd., Kolkata

Appeals are dismissed

ITA 1970/KOL/2016[2008-09]Status: DisposedITAT Kolkata22 Jun 2018AY 2008-09

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

For Appellant: Shri A.Bhattacharjee, Addl.CITFor Respondent: None
Section 143(3)Section 145

…of merit. It has come on record that the assessee has duly proved that the impugned stock of materials to be unsaleable as per the relevant details of the corresponding minerals. The Hon’ble apex court’s landmark decision in Bharat Earth Movers vs CIT (2000) 245 ITR 428 (SC) has settled the law that provision for ascertained liability arising in an assessment year is very much allowable although it may have to be quantified and discharged on a future date. We keep in mind the said legal proposition to hold that the assessee’s provision of unsaleable stock of minerals has been rightly made as relevant books of ac…

ACIT, Circle-5(2), Kolkata vs. The Bisra Stone Lime Co Ltd., Kolkata

Appeals are dismissed

ITA 1969/KOL/2016[2007-08]Status: DisposedITAT Kolkata22 Jun 2018AY 2007-08

Bench: Hon’Ble Shri S.S.Godara, Jm & Shri M.Balaganesh, Am ]

For Appellant: Shri A.Bhattacharjee, Addl.CITFor Respondent: None
Section 143(3)Section 145

…of merit. It has come on record that the assessee has duly proved that the impugned stock of materials to be unsaleable as per the relevant details of the corresponding minerals. The Hon’ble apex court’s landmark decision in Bharat Earth Movers vs CIT (2000) 245 ITR 428 (SC) has settled the law that provision for ascertained liability arising in an assessment year is very much allowable although it may have to be quantified and discharged on a future date. We keep in mind the said legal proposition to hold that the assessee’s provision of unsaleable stock of minerals has been rightly made as relevant books of ac…

T vs. Infotech Limited, Chennai

In the result, the above appeals filed by the assessee are treated as partly allowed for statistical purposes

ITA 3167/CHNY/2017[2014-15]Status: DisposedITAT Chennai30 May 2018AY 2014-15

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15

For Appellant: Mr.Srinivasa Rao, CITFor Respondent: 30.05.2018
Section 43B

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम% BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15 M/s.TVS InfoTech Ltd., Vs. The Asst. Commissioner of 98 A, 7th Floor, Income Tax, Dr. Radhakrishnan Salai, Corporate Circle-3(1), Mylapore, Chennai-600 034. Chennai-600 004. [PAN: AAACS 7746 L] (अपीलाथ'/Appellant) (()यथ'/Respondent) : Mr.R.Vijayaraghavan, Adv. अपीलाथ…

T vs. Infotech Limited, Chennai

In the result, the above appeals filed by the assessee are treated as partly allowed for statistical purposes

ITA 3166/CHNY/2017[2010-11]Status: DisposedITAT Chennai30 May 2018AY 2010-11

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15

For Appellant: Mr.Srinivasa Rao, CITFor Respondent: 30.05.2018
Section 43B

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम% BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15 M/s.TVS InfoTech Ltd., Vs. The Asst. Commissioner of 98 A, 7th Floor, Income Tax, Dr. Radhakrishnan Salai, Corporate Circle-3(1), Mylapore, Chennai-600 034. Chennai-600 004. [PAN: AAACS 7746 L] (अपीलाथ'/Appellant) (()यथ'/Respondent) : Mr.R.Vijayaraghavan, Adv. अपीलाथ…

T vs. Infotech Limited, Chennai

In the result, the above appeals filed by the assessee are treated as partly allowed for statistical purposes

ITA 3165/CHNY/2017[2008-09]Status: DisposedITAT Chennai30 May 2018AY 2008-09

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15

For Appellant: Mr.Srinivasa Rao, CITFor Respondent: 30.05.2018
Section 43B

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम% BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.3165, 3166 & 3167/Chny/2017 "नधा"रण वष" /Assessment Years: 2008-09, 2010-11 & 2014-15 M/s.TVS InfoTech Ltd., Vs. The Asst. Commissioner of 98 A, 7th Floor, Income Tax, Dr. Radhakrishnan Salai, Corporate Circle-3(1), Mylapore, Chennai-600 034. Chennai-600 004. [PAN: AAACS 7746 L] (अपीलाथ'/Appellant) (()यथ'/Respondent) : Mr.R.Vijayaraghavan, Adv. अपीलाथ…

Global Logic Technologies Limited, Hyderabad vs. ACIT, Circle-2(2) Hyderabad, Hyderabad

In the result, assessee’s appeal is allowed

ITA 1672/HYD/2016[2012-13]Status: DisposedITAT Hyderabad23 May 2018AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmanm/S. Global Logic Vs Asstt. Commissioner Of Technologies Ltd Income Tax, Circle 2(2) Hyderabad Hyderabad Pan: Aadcr5222K (Appellant) (Respondent)

For Appellant: Shri K.C. DevdasFor Respondent: Shri K. Srinivas Reddy, DR
Section 143(3)

…e P&L A/c and therefore, is not allowable, he placed reliance upon the decision of the Hon'ble Supreme Court in the case of Kedarnath Jute Manufacturing Co. Ltd v. CIT (1971) 82 ITR 363 and also in the case of Bharat Earthmovers Ltd vs. CIT reported in (2000) 245 ITR 428 (S.C). The learned Counsel for the assessee also submitted that the assessee has filed the revised return of income within the time limit making a fresh claim and that the same ought to have been considered as held by the Hon'ble Apex Court in the case of Goetze (India) Ltd vs. CIT (2006) 284 ITR 323 (S.C). Further, he also placed reliance upon t…

DCIT Circle 1, Tirunelveli vs. Rm Kv Fashion Garments Pvt Ltd, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 761/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

ACIT Circle 1, Tirunelveli vs. M/S Rm Kv Fbrics Private Limited, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 760/CHNY/2018[2014--15]Status: DisposedITAT Chennai30 Apr 2018

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

ACIT Circle 1, Tirunelveli vs. M/S Rm K V Silks Private Limited, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 759/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

M/S Rm Kv Fbrics Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 614/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

M/S Rm K V Silks Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 613/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1626/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1625/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1624/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1623/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…ther hand, the ld. Counsel for the assessee Mr. Vijayaraghavan submitted that the provisions for bonus card liability is not a contingent liability as per accounting standard 29, the decision of the Hon’ble Supreme Court in the case of Bharath Earth Movers 245 ITR 428 and in the case of Rotorck Controls India P. Ltd. (supra). 11. We heard the rival submission and perused the material on record. The issue involved in the present ground of appeals is on the allowability of provision made for liability towards unredeemed bonus points. The salient features of the bonus card are that the assessee-company introd…