Exide Industries Ltd. v. Union of India

292 ITR 470High Court2007#242 most cited

What is Exide Industries Ltd. v. Union of India authority for?

The Calcutta High Court held that restricting deduction for leave encashment via Section 43B(f) was arbitrary and contrary to Supreme Court decisions. However, this judgment was later stayed by the Supreme Court.

320

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2026.

Also referred to as

Exide Industries Ltd. v. Union of India · 292 ITR 470 · section 43B(f) · leave encashment · deduction · arbitrary · unconscionable · stay order · Supreme Court

Also reported as

164 Taxmann 9

Sections most often in play

Section 143(3)Section 43BSection 14ASection 263Section 43B(f)Section 10(20)Section 11Section 12A

Issues it is cited on

section 43b(f)section 32(1)(iia)additional depreciationsection 43bsection 43penalty under section 271(1)(c)revenue expenditurefurnishing inaccurate particularscapital expendituresection 32penalty u/s 271(1)(c)section 115jb

Judgments citing Exide Industries Ltd. v. Union of India

Cesc Limited, Kolkata vs. The DCIT RG-6, Kolkata

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

ITA 1187/KOL/2014[2010-2011]Status: DisposedITAT Kolkata13 Jun 2018AY 2010-2011

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am] I.T.A. No. 1304/Kol/2014 Assessment Year: 2010-11

Section 119Section 139Section 194CSection 40Section 40(1)(ia)

…llowability of provision for leave encashment in terms of sub-section (f) of section 43B of the Income Tax Act. The assessee had advanced its claim relying on the decision of the Hon’ble Kolkata High Court in the case of M/s. Exide Industries Ltd. reported in 292 ITR 470. However, the Assessing Officer did not accept the assessee’s claim observing that Department has preferred a Special Leave Petition before the Hon’ble Supreme Court and stay of the order of the Hon’ble Kolkata High Court was granted by the Hon’ble Apex Court. Ld. senior counsel submitted that under identical circumstances, Tribunal has restored…

Fedex Express Services (India) P.Ltd, Mumbai vs. Addl CIT RG 8(1), Mumbai

In the result, this appeal filed by the assessee stands allowed

ITA 7409/MUM/2012[2008-09]Status: DisposedITAT Mumbai01 Jun 2018AY 2008-09

Bench: Shri Shamim Yahya, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 7409/Mum/2012 ("नधा"रण वष" / Assessment Year: 2008-09) Fedex Express Services (India) Private Addl. Cit, Range 8(1), बनाम/ Limited Aayakar Bhavan, M. K. Road, 12, Koteshwar Palace, Jiva Mahale Mumbai-400 020 Vs. Marg, Andheri (East), Mumbai-400 069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacp 3802 C (अपीलाथ" /Appellant) (""यथ" / Respondent) : & आयकर अपील सं./I.T.A. No. 3088/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Fedex Express Transportation & Dy. Cit – 8(1), Room No. 209, 2Nd Floor, Supply Chain Services India Private Limited (‘Fetscs’) Aayakar Bhavan, M. K. Road, [Fedex Express Services India Private Mumbai-400 020 बनाम/ Limited Merged With Fetscs W.E.F Vs. 01.10.2013] Boomerang, Unit No. 801, Wing-A, 8Th Floor, Chandivali Farm Road, Andheri (East), Mumbai-400 072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacp 3802 G (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Dharmesh Bafna/ Shri Ravi Sawana ""यथ" क" ओर से/Respondent By : Ms. Pooja Swaroop

For Appellant: Shri Dharmesh Bafna/For Respondent: Ms. Pooja Swaroop
Section 143(3)Section 144C(13)Section 144C(5)Section 234BSection 234CSection 43B

…ssessee created a provision of Rs.4,332,598/- for leave encashment towards unutilized leave of its employees. The same was claimed as expenditure. The assessee relied upon the decision of the Calcutta High Court in the case of Exide Industries Limited v UOI (292 ITR 470). The assessee adopted the position that the unpaid provision of leave encashment of Rs.4,332,598/- was neither a contingent nor a statutory liability but expenditure incurred for the purposes of its business and allowable as a deduction in arriving at its taxable income in the year in which the provision was made. However, the assessee deposite…

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

…n of the AO and the submissions of the appellant. The decision of ITAT, Chennai in the case of Indian Overseas Bank, cited supra, is not applicable because in that case the Tribunal followed the Kolkata High Court decision in the case of Exide Industries Ltd, 292 ITR 470, whereas the Supreme Court stayed the order of the Calcutta High Court in Exide Industries Ltd., cited supra, vide petitions(s) for special leave to Appeal (Civil) No(s).22889/2008 dated 08.05.2009, which is reproduced as under: “Pending hearing and final disposal of the Civil Appeal, Department is restrained from recovering penalty and interest…

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

…n of the AO and the submissions of the appellant. The decision of ITAT, Chennai in the case of Indian Overseas Bank, cited supra, is not applicable because in that case the Tribunal followed the Kolkata High Court decision in the case of Exide Industries Ltd, 292 ITR 470, whereas the Supreme Court stayed the order of the Calcutta High Court in Exide Industries Ltd., cited supra, vide petitions(s) for special leave to Appeal (Civil) No(s).22889/2008 dated 08.05.2009, which is reproduced as under: “Pending hearing and final disposal of the Civil Appeal, Department is restrained from recovering penalty and interest…

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

…n of the AO and the submissions of the appellant. The decision of ITAT, Chennai in the case of Indian Overseas Bank, cited supra, is not applicable because in that case the Tribunal followed the Kolkata High Court decision in the case of Exide Industries Ltd, 292 ITR 470, whereas the Supreme Court stayed the order of the Calcutta High Court in Exide Industries Ltd., cited supra, vide petitions(s) for special leave to Appeal (Civil) No(s).22889/2008 dated 08.05.2009, which is reproduced as under: “Pending hearing and final disposal of the Civil Appeal, Department is restrained from recovering penalty and interest…

The Aryapuram Co-Operative Urban Bank Ltd., Rajahmundry vs. The ACIT, Circle - 1, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 177/VIZ/2013[2009-10]Status: DisposedITAT Visakhapatnam28 May 2018AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER ITA Nos. 176 & 177/VIZ/2013 (Asst. Year : 2008-09 & 2009-10) And And The Aryapuram Co-op. Urban vs. ACIT, Circle-1, Bank Ltd., Near Gokavaram Rajahmundry. Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) ACIT, Circle-1, vs. The Aryapuram Co-op. Urban Rajahmundry. Bank Ltd., Near Gokavaram Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) Assessee by : Sh…

The ACIT, Circle - 1, Rajahmundry vs. M/Sthe Aryapuram Co-Oprative Urban Bank Ltd., Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 195/VIZ/2013[2009-10]Status: DisposedITAT Visakhapatnam28 May 2018AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER ITA Nos. 176 & 177/VIZ/2013 (Asst. Year : 2008-09 & 2009-10) And And The Aryapuram Co-op. Urban vs. ACIT, Circle-1, Bank Ltd., Near Gokavaram Rajahmundry. Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) ACIT, Circle-1, vs. The Aryapuram Co-op. Urban Rajahmundry. Bank Ltd., Near Gokavaram Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) Assessee by : Sh…

The Aryapuram Co-Operative Urban Bank Ltd., Rajahmundry vs. The ACIT, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 173/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam28 May 2018AY 2011-12

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER ITA Nos. 176 & 177/VIZ/2013 (Asst. Year : 2008-09 & 2009-10) And And The Aryapuram Co-op. Urban vs. ACIT, Circle-1, Bank Ltd., Near Gokavaram Rajahmundry. Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) ACIT, Circle-1, vs. The Aryapuram Co-op. Urban Rajahmundry. Bank Ltd., Near Gokavaram Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) Assessee by : Sh…

Aryapuram Co=Op. Urbank Ltd., Rajahmundry vs. The ACIT, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 517/VIZ/2014[2010-11]Status: DisposedITAT Visakhapatnam28 May 2018AY 2010-11

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER ITA Nos. 176 & 177/VIZ/2013 (Asst. Year : 2008-09 & 2009-10) And And The Aryapuram Co-op. Urban vs. ACIT, Circle-1, Bank Ltd., Near Gokavaram Rajahmundry. Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) ACIT, Circle-1, vs. The Aryapuram Co-op. Urban Rajahmundry. Bank Ltd., Near Gokavaram Bus Stand, Rajahmundry, East Godavari District. PAN No. AAATT 8099 C (Appellant) (Respondent) Assessee by : Sh…

DCIT, Corporate Circle-1(2), Bhubaneswar vs. M/S. National Aluminium Company Limited, Bhubaneswar

In the result, appeal of the assessee i

ITA 339/CTK/2016[2010-11]Status: DisposedITAT Cuttack27 Apr 2018AY 2010-11

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अऩीऱ सं./Ita No.339 & 340/Ctk/2016 Dcit, Corporate Circle1(2)/ Vs. National Aluminium Company Acit, Circle-2(2), Limited, Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.352 & 353/Ctk/2016 & Ita No.374/Ctk/2014 (नििाारण वषा / Assessment Year :2010-11, 2012-13 & 2011-12) National Aluminium Company Vs. Jcit Range-2/ Limited, Acit, Corporate Circle-1(2) Nalco Bhavan, P/1, Nayapalli, Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.01/Ctk/2015 & 25/Ctk/2016 (Arising Out Of Ita Nos.376/Ctk/14 & Ita No.340/Ctk/2016) (नििाारण वषा / Assessment Year :2011-2012 & 2012-2013) National Aluminium Company Vs. Acit, Circle-2(2)/ Limited, Dcit, Corporate Circle- Nalco Bhavan, P/1, Nayapalli, 1(2), Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Ved Jain/B.K.Mahapatra, ARsFor Respondent: Shri Saad Kidwai, CIT DR
Section 14A

…le only if the said expenditure has actually been paid by the assessee. On appeal, the Ld. CIT(A) has sustained the disallowance made by the AO holding that the decision of the Calcutta High Court in the case of Excide Industries Ltd. v. Union of India [2007] 292 ITR 470 has been stayed by the Apex Court. 29. On further appeal before us, ld. AR of the assessee submitted as under :- ITA Nos.339&340/CTK/16 &376/CTK/14 & CO.01/CTK/15&25/CTK/16 ―During the year under consideration, assessee company has debited an amount of Rs.18,85,04,549/- in its Profit & Loss account towards leave encashment. The said amount has be…

Paradeep Phosphates Ltd., Bhubaneswar vs. JCIT, Range-1, Bhubaneswar

In the result, appeal of the assessee is allowed for statistical purposes and appeal of Revenue is dismissed

ITA 560/CTK/2013[2009-10]Status: DisposedITAT Cuttack27 Apr 2018AY 2009-10
For Appellant: Shri B.K.Mahapatra/A.K.Sabat, ARFor Respondent: Shri Saad Kidwai, CITDR

…ty of the amendments made by Finance Act, 2001 by insertion of subsection (f) to section 43B of the Act' having been struck down by the Hon'ble Calcutta High Court in the case of Exide Industries Ltd. Vs. Union of India in APO No. 301/2005 [reported in (2007) 292 ITR 470] by holding the same being arbitrary, unconscionable and de hors the Apex Court decision in the case of Bharat Earth Movers v. CIT [2000] 245 ITR 428. c. That on the facts and in the circumstances of the case, the denial of deletion of Rs.7,28,75,325/- in respect of Provision for Leave Salary (Encashment) by the learned CIT (Appeals) is based on…

DCIT, Cir-3(1), Kolkata vs. M/S Tata Metaliks Ltd., Kolkata

In the result, Revenue’s appeal is dismissed

ITA 478/KOL/2016[2010-2011]Status: DisposedITAT Kolkata27 Apr 2018AY 2010-2011

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 115JSection 139(1)Section 143(3)Section 234C

…ee in pursuance to the provision of Sec. 43B(f) of the Act. on being confronted, assessee submitted that the impugned issue is covered in favor of assessee by the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries vs. Union of India 292 ITR 470 (Cal), however, AO disregarded the contention of assessee by observing that the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries (supra) was stayed by Hon'ble Supreme Court. Accordingly, AO disallowed the same and added to the total income of assessee. 6. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The…

Tata Metaliks Ltd., Kolkata vs. ITO, WD-3(2), Kolkata

In the result, Revenue’s appeal is dismissed

ITA 439/KOL/2016[2010-11]Status: DisposedITAT Kolkata27 Apr 2018AY 2010-11

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 115JSection 139(1)Section 143(3)Section 234C

…ee in pursuance to the provision of Sec. 43B(f) of the Act. on being confronted, assessee submitted that the impugned issue is covered in favor of assessee by the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries vs. Union of India 292 ITR 470 (Cal), however, AO disregarded the contention of assessee by observing that the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries (supra) was stayed by Hon'ble Supreme Court. Accordingly, AO disallowed the same and added to the total income of assessee. 6. Aggrieved, assessee preferred an appeal before Ld. CIT(A). The…

Integrated Coal Mining Limited, Kolkata vs. DCIT, Circle-6(1), Kolkata

In the result, both the appeals of assessee are allowed for statistical purposes

ITA 585/KOL/2017[2012-13]Status: DisposedITAT Kolkata26 Apr 2018AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 43B

…action of the AO. Aggrieved, the assessee is in appeal before us. Integrated Coal Mining Ltd., AY- 2011-12 & 2012-13 4. The Learned AR relied on the decision of the Jurisdictional High Court in the case of Exide Industries Ltd. vs Union of India reported in 292 ITR 470 (Cal) wherein the provisions of section 43B (f) of the Act has been struck down as arbitrary. However he fairly conceded that the Hon'ble Apex Court though had stayed the operation of the judgement of Calcutta High Court initially but later, it had directed the assesses to comply with the provisions of section 43B(f) of the Act and pay taxes ther…

Integrated Coal Mining Limited, Kolkata vs. DCIT, Circle-6(1), Kolkata

In the result, both the appeals of assessee are allowed for statistical purposes

ITA 584/KOL/2017[2011-12]Status: DisposedITAT Kolkata26 Apr 2018AY 2011-12

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 43B

…action of the AO. Aggrieved, the assessee is in appeal before us. Integrated Coal Mining Ltd., AY- 2011-12 & 2012-13 4. The Learned AR relied on the decision of the Jurisdictional High Court in the case of Exide Industries Ltd. vs Union of India reported in 292 ITR 470 (Cal) wherein the provisions of section 43B (f) of the Act has been struck down as arbitrary. However he fairly conceded that the Hon'ble Apex Court though had stayed the operation of the judgement of Calcutta High Court initially but later, it had directed the assesses to comply with the provisions of section 43B(f) of the Act and pay taxes ther…

DCIT, Large Taxpayer Unit-1, Chennai vs. Wheels India Ltd, Chennai

In the result, the Revenue’s appeal is dismissed

ITA 2198/CHNY/2017[2011-12]Status: DisposedITAT Chennai24 Apr 2018AY 2011-12

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 35Section 43B

…आयकर अपील"य अ"धकरण, ’ ए ' "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI "ी धु"वु" आर. एल रे"डी, "या"यक सद य एवं, "ी एस जयरामन लेखा सद य समक् BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 2198/Chny/2017 "नधा"रण वष"/Assessment Year : 2011-12 Deputy Commissioner of Income Tax, Wheels India Ltd., Large Taxpayer Unit -1, Vs. No. 21 Patullos Road, Chennai. Padi, Chennai – 600 002. [PAN: AAACW 0315K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. A R V Sreenivasan, JCIT अपीलाथ'क(ओरसे/Appellant by : +,यथ'क(ओरसे/Respondent by Shri…

The Jain Sahakari Bank Ltd, Mumbai vs. DCIT 1(3), Mumbai

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

ITA 6459/MUM/2014[2011-12]Status: DisposedITAT Mumbai16 Apr 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm The Jain Sahakari Bank Ltd., Vs. Dcit – 1(3) Khattarali Lane, Hirabaug Mumbai C.P.Tank, Girgaum Mumbai – 400 004 Pan/Gir No.Aabat4667Q Appellant) .. Respondent)

Section 143(3)

…that the same has not been paid and as per provision of section 43B the same is to be disallowed. 11. On an identical issue, the Hon'ble Apex Court has stayed the judgement delivered by Calcutta High Court passed in the case of Exide Industries Limited vs UOI 292 ITR 470. Further, the Coordinate bench of tribunal in the case of Birla Sunlife Asset Management Company Ltd vs DCIT 5457/M/2013 has statistically allowed the appeal of the assessee stating as under: “In view of the observations of the Hon'ble Supreme Court, in our view, it will be proper to dispose of this appeal in the light of the order of the 6 The…

Minilec India Private Ltd., Pune vs. Assistant Commissioner of Income-Tax

In the result, appeal of assessee is partly allowed

ITA 690/PUN/2015[2010-11]Status: DisposedITAT Pune09 Apr 2018AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.690/Pun/2015 यििाारण वषा / Assessment Year : 2010-11 Minilec India Pvt. Ltd., 1073/1-2-3, At & Post Pirangut, अऩीऱाथी/Appellant Pune – 412111 …. Pan:Aabcm2682E Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle 11(2), Pune

For Appellant: Shri Kishore PhadkeFor Respondent: Shri Mukesh Jha, JCIT
Section 143(3)Section 35Section 35(1)Section 35(1)(i)Section 35(1)(iv)Section 43BSection 69C

…ction 43B of the Act on account of delayed payment of leave encashment. 33. Clause (f) to section 43B of the Act was inserted by the Finance Act w.e.f. 01.04.2002. However, the Hon‟ble High Court of Calcutta in Exide Industries Ltd. Vs. Union of India (2007) 292 ITR 470 (CAL.) had struck down the said amendment being arbitrary and unconstitutional, applying the ratio laid down by the Hon‟ble Apex Court in the case of Bharat Earth Movers Vs. CIT (2000) 245 ITR 428 (SC). Once the said clause has been struck down, then the payment of leave encashment is a trade liability and not statutory liability, hence, the pro…

Imc Ltd., Kolkata vs. ACIT, Cir-11, Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes and appeal of the revenue is dismissed

ITA 1239/KOL/2016[2008-09]Status: DisposedITAT Kolkata16 Mar 2018AY 2008-09

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1150/Kol/2016 Assessment Year : 2008-09 Jcit(Osd),Cir-11(1), Kolkata -Vs- M/S Imc Ltd. [Pan: Aaaci 6884 R] (Appellant) (Respondent) I.T.A No. 1239/Kol/2016 Assessment Year : 2008-09 M/S Imc Ltd. -Vs- Jcit(Osd),Cir-11(1), Kolkata [Pan: Aaaci 6884 R] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri P. Jhunjhunwala, Adv
Section 143(3)Section 14ASection 14A(2)

…4,020/-, under section 43B of the Act while computing income under the normal provisions of the Act. 8. We have heard the rival submissions. We find that though the Hon’ble Calcutta High Court in the case of Exide Industries Ltd vs Union of India reported in 292 ITR 470 (Cal) had struck down the provisions of section 43B(f) of the Act as unconstitutional, the revenue had carried the matter further to the Hon’ble Supreme Court which initially in Special Leave to Appeal (Civil) CC 12060 / 2008 dated 8.9.2008 had held as under:- “The petition was called on for hearing today. Upon hearing counsel the court made the…

JCIT (OSD), Cir-11(1), Kolkata vs. M/S Imc Ltd., Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes and appeal of the revenue is dismissed

ITA 1150/KOL/2016[2008-09]Status: DisposedITAT Kolkata16 Mar 2018AY 2008-09

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1150/Kol/2016 Assessment Year : 2008-09 Jcit(Osd),Cir-11(1), Kolkata -Vs- M/S Imc Ltd. [Pan: Aaaci 6884 R] (Appellant) (Respondent) I.T.A No. 1239/Kol/2016 Assessment Year : 2008-09 M/S Imc Ltd. -Vs- Jcit(Osd),Cir-11(1), Kolkata [Pan: Aaaci 6884 R] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri P. Jhunjhunwala, Adv
Section 143(3)Section 14ASection 14A(2)

…4,020/-, under section 43B of the Act while computing income under the normal provisions of the Act. 8. We have heard the rival submissions. We find that though the Hon’ble Calcutta High Court in the case of Exide Industries Ltd vs Union of India reported in 292 ITR 470 (Cal) had struck down the provisions of section 43B(f) of the Act as unconstitutional, the revenue had carried the matter further to the Hon’ble Supreme Court which initially in Special Leave to Appeal (Civil) CC 12060 / 2008 dated 8.9.2008 had held as under:- “The petition was called on for hearing today. Upon hearing counsel the court made the…