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 366,470 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

Mc Nally Sayaji Engineering Limited, North 24 Parganas vs. D.C.I.T Cir - 1, Kolkata

In the result, the appeals of the assessee in ITA No

ITA 927/KOL/2013[2009-10]Status: DisposedITAT Kolkata10 Mar 2017AY 2009-10

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: Smt. Shreya Loyalka, CAFor Respondent: Md. Ghayas Uddin, JCIT, Sr. DR
Section 143(3)Section 14A

…disallowing the claim of the Appellant in respect of deduction of provision for leave encashment of Rs 1,117,925 under section 43B of the Act.” 4.1. The Learned AR argued that since the decision of the Calcutta High Court in the case of Exide Industries Ltd 292 ITR 470 (Cal) has struck down the provisions of section 43B(f) of the Act, the deduction may be granted towards leave encashment made on provision basis itself in line with the decision of the Supreme Court in the case of Bharat Earth Movers Ltd reported in 245 ITR 428 (SC). In response to this, the Learned DR argued that the Hon’ble Supreme Court vide i…

DCIT, Circle - 1, Kolkata vs. M/S. Mcnally Sayaji Engineering Limited, Kolkata

In the result, the appeals of the assessee in ITA No

ITA 1575/KOL/2011[2008-09]Status: DisposedITAT Kolkata10 Mar 2017AY 2008-09

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: Smt. Shreya Loyalka, CAFor Respondent: Md. Ghayas Uddin, JCIT, Sr. DR
Section 143(3)Section 14A

…disallowing the claim of the Appellant in respect of deduction of provision for leave encashment of Rs 1,117,925 under section 43B of the Act.” 4.1. The Learned AR argued that since the decision of the Calcutta High Court in the case of Exide Industries Ltd 292 ITR 470 (Cal) has struck down the provisions of section 43B(f) of the Act, the deduction may be granted towards leave encashment made on provision basis itself in line with the decision of the Supreme Court in the case of Bharat Earth Movers Ltd reported in 245 ITR 428 (SC). In response to this, the Learned DR argued that the Hon’ble Supreme Court vide i…

DCIT, Cir-12, Kolkata vs. M/S Hindustan Gums & Chemical Ltd., Kolkata

In the result, the appeal of the assessee in ITA No

ITA 752/KOL/2014[2008-2009]Status: DisposedITAT Kolkata08 Mar 2017AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: S/Shri J. P. Khaitan, Sr. Adv. & Sanjay Bhaumik, AdvFor Respondent: Shri S. S. Alam, JCIT, Sr. DR
Section 143(3)Section 43B

…ility nor contingent liability and therefore not to be considered for the purpose of computing disallowance u/s. 43B(f) of the I. T. Act, 1961.” 2.2. The Learned AR argued that since the decision of the Calcutta High Court in the case of Exide Industries Ltd 292 ITR 470 (Cal) has struck down the provisions of section 43B(f) of the Act, the deduction may be granted towards leave encashment made on provision basis itself in line with the decision of the Supreme Court in the case of Bharat Earth Movers Ltd reported in 245 ITR 428 (SC). In response to this, the Learned DR vehemently supported the orders of the lower…

Hindustan Gum & Chemicals Ltd., Kolkata vs. The DCIT, Cir-12, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 462/KOL/2014[2008-2009]Status: DisposedITAT Kolkata08 Mar 2017AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: S/Shri J. P. Khaitan, Sr. Adv. & Sanjay Bhaumik, AdvFor Respondent: Shri S. S. Alam, JCIT, Sr. DR
Section 143(3)Section 43B

…ility nor contingent liability and therefore not to be considered for the purpose of computing disallowance u/s. 43B(f) of the I. T. Act, 1961.” 2.2. The Learned AR argued that since the decision of the Calcutta High Court in the case of Exide Industries Ltd 292 ITR 470 (Cal) has struck down the provisions of section 43B(f) of the Act, the deduction may be granted towards leave encashment made on provision basis itself in line with the decision of the Supreme Court in the case of Bharat Earth Movers Ltd reported in 245 ITR 428 (SC). In response to this, the Learned DR vehemently supported the orders of the lower…

DCIT, Circle-1, Kolkata vs. M/S Mcnally Bharati Engineering Co.Ltd., Kolkata

In the result the appeal by the assessee is partly allowed

ITA 532/KOL/2012[2007-2008]Status: DisposedITAT Kolkata01 Mar 2017AY 2007-2008

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No.100/Kol/2011 Assessment Year : 2006-07

For Appellant: Shri Soumen Adak, FCAFor Respondent: Shri Vijayendra Kumar, JCIT
Section 115JSection 43B

…leave encashment is actually paid to the employee by the employer. The plea of the assessee before the AO was that since section 43B(f) of the Act was declared unconstitutional by the Hon’ble Calcutta High Court in the case of Exide Industries Limited vs UOI 292 ITR 470 (Cal) provision for leave encashment thus based on proper estimate is a certain liability and should be allowed as deduction. The AO however after making a reference to the fact that an appeal against the decision of the Hon’ble Calcutta High Court in the case of Exide Industries Ltd. (supra) has been preferred 3 4 ITA No.100/Kol/2011& C.O.No.13…

Til Limited, Kolkata vs. The ACIT- RG-1, Kolkata

In the result, appeal filed by assessee stands allowed for statistical purpose

ITA 1208/KOL/2014[2007-2008]Status: DisposedITAT Kolkata08 Feb 2017AY 2007-2008

Bench: Shri A.T.Varkey & Shri Waseem Ahmedassessment Year :2007-08

Section 143(3)Section 43B

…1,29,73,646/- on accrual basis. Before us Ld. AR for the assessee submitted that the deduction on account of provision of leave encashment was claimed on the judgment of jurisdictional High Court in the case of Exide Industries Ltd. vs. Union of India (2007) 292 ITR 470 (Cal) and in this regard, Ld. AR frankly accepted that the judgment of Hon'ble jurisdictional High Court in the case of Exide Industries Ltd. (supra) has been stayed by the Hon'ble Apex Court vide order dated 08.05.2009 and the relevant extract is reproduced below:- “Pending hearing and final disposal of the Civil Appeals, Department is restraine…

Merck Specialities P. Ltd, Mumbai vs. Asst CIT Cir 6(3), Mumbai

ITA 3943/MUM/2013[2007-08]Status: DisposedITAT Mumbai25 Jan 2017AY 2007-08

Bench: S/Sh.Rajendra & Amarjit Singhिनधा"रण वष" वष" /Assessment Year: 2007-08 आयकर अपील सं./I.T.A./3943/Mum/2013,िनधा"रण िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./3944/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2008-09 िनधा"रण िनधा"रण वष" वष" Merck Specialities Private Limited The Acit, Circle-6(3), Aayakar Bhavan Shivsagar Estate, Dr. Annie Besant Rd. M.K. Road Vs. Worli,Mumbai-400 018. Mumbai-400020. Pan:Aaecm 2634 B (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri B.C.S Naik-Cit-Dr अपीलाथ" क" ओर से /Assessee By: Shri P.J. Pardiwala/Ms. Aarati Visanji सुनवाई क" तारीख / Date Of Hearing: 07/11/2016 घोषणा क" तारीख / Date Of Pronouncement: 25.01.2017 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य, राजे"" राजे"" केकेकेके अनुसार अनुसार/ Per Rajendra A.M.- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Orders Of The Cit(A)-12,Mumbai The Assessee Has Filed The Appeals For The Above-Mentioned Assessment Years(Ay.S).Assessee-Company, Is Engaged In The Business Of Manufacturing Trading & Marketing Of Fine Chemicals & Pharmaceutical Specialties. The Details Of The Dates Of Filing Of Returns,Returned Incomes,Assessed Incomes Etc.Can Be Summarised As Under: Ay. Roi Filed On Returned Income Asstt.Dt. Assessed Income Cit(A)Order 2007-08 29.10.2007 Rs.5.64,95,162/- 31.12.2010 Rs.22,79,96,485/- 28/03/2013 2008-09 30.09.2008 Rs.24,35,52,117/-/- 26.12.2011 Rs.37,61,06,040/- 18/03/2013

For Appellant: Shri P.J. Pardiwala/Ms. Aarati VisanjiFor Respondent: Shri B.C.S Naik-CIT-DR
Section 254(1)Section 43(1)

…आयकर अपीलीय अपीलीय अिधकरण अिधकरण, मुंबई मुंबई “आई आई” खंडपीठ खंडपीठ आयकर आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण मुंबई मुंबई आई आई खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“I”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member िनधा"रण वष" वष" /Assessment Year: 2007-08 आयकर अपील सं./I.T.A./3943/Mum/2013,िनधा"रण िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./3944/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2008-09 िनधा"रण िनधा"रण वष" वष" Merck Specialities Private Limited The ACIT, Circle-6(3), Aayakar Bhavan Shivsagar Es…

Birla Sun Life Asset Management Company Ltd, Mumbai vs. DCIT RG 8(1), Mumbai

In the result, the appeal of the assessee is treated as allowed for

ITA 3027/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Jan 2017AY 2011-12

Bench: S/Shri Amit Shukla, Jm & Ashwani Taneja, Am Assessment Year:2011-12

For Appellant: Shri Ronak G DoshiFor Respondent: Shri M.C. Omi Nigshen
Section 143(3)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “H”, MUMBAI Before S/Shri Amit Shukla, JM & Ashwani Taneja, AM Assessment Year:2011-12 Birla Sun Life Asset Dy. CIT 6(1)(2) Management Company Ltd. Mumbai Vs. One India Bulls Centre Tower 1, 17th Floor, Jupiter Mill Compound, 841 SenapatiBapat Marg, Elphinstone, Mumbai 400 013 PAN AAACB6134D (Appellant) (Respondent) Appellant By : Shri Ronak G Doshi Respondent By :Shri M.C. Omi Nigshen Date of Hearing :17.01.2017 Date of Pronouncement :17.01.2017 O R D E R Per Amit Shukla, Judicial Member The aforesaid appeal has been filed by the assessee against impu…

Tml Distribution Company Limited, Mumbai vs. CIT - 1, Mumbai

In the result the ground No

ITA 3427/MUM/2014[2009-10]Status: DisposedITAT Mumbai13 Jan 2017AY 2009-10

Bench: S/Sh. Rajendra & Pawan Singhआयकर अपील सं/.Ita No.3427/Mum/2014,"नधा"रण वष"/Assessment Year-2009-10 Tml Distribution Company Ltd. Cit-1, 3Rd Floor, Nanavati Mahalaya, 18 3Rd Floor, Room No. 387, बनाम Homi Mody Street, Aayakar Bhavan, M.K. Marg, Vs. Mumbai-400001 Mumbai-400020. Pan: Aacct9000E (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से/ Assessee By : Shri Rajan R. Vora/Nikhil Tiwari राज"व ओर से / Revenue By : Shri B.B.Rajendra Prasad

For Appellant: Shri Rajan R. Vora/Nikhil TiwariFor Respondent: Shri B.B.Rajendra Prasad
Section 143(3)Section 253Section 254(1)Section 263Section 43

…ought to have been disallowed for computation of income, the disallowance was required to be made in specific provision of section 43(f) of the Act. The notice further disclosed that the decision of Kolkata High Court in case of Exide Industries Ltd. vs. UOI 292 ITR 470 is stayed by Hon’ble Apex Court vide order dated 08.05.2009, the return of income was filed and the assessee would pay tax, if section 43B(f) exist in the statute book. Thus, the AO ought to have disallowed the claim of leave encashment. The assessee filed reply of show cause notice vide its reply dated 10.01.2014. The assessee furnished the deta…

The West Coast Paper Mills Ltd, Mumbai vs. Addl CIT 1(3), Mumbai

Appeal stands allowed for Statistical Purposes

ITA 1965/MUM/2015[2010-11]Status: DisposedITAT Mumbai06 Jan 2017AY 2010-11
For Appellant: Shri Vijay Mehta -ARFor Respondent: Ms. Sunita Billa-DR
Section 14ASection 254(1)Section 80Section 80I

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “जी मुंबई जी जी खंडपीठ जी खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“G”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member आयकर अपील सं./I.T.A./1965/Mum/2015,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2010-11 िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./1966/Mum/2015,िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2011-12 वष" The West Coast Paper Mills Ltd. ACIT-1(3) Shreeniwas House Aayakar Bhavan HazarimalSoma…

Addl CIT 8(2), Mumbai vs. Mumbai International Airport P. Ltd, Mumbai

ITA 3232/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Nov 2016AY 2008-09

Bench: Shri Mahavir Singh & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)Section 40

…aw, the Ld. CIT(A) erred in confirming the disallowance of the provision for leave encashment of Rs.13,782,831/made on the basis of an actuarial valuation by relying on the decision of Calcutta High Court in the case of Exide industries Ltd. v Union of India (292 ITR 470). The appellant prays that the same may be allowed. Ground No. 3: On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the stand of A.O. that the Passenger Service Fee - Security Component [PSF(SC)] of Rs.1,32,58,59,023/- forms part of the taxable income of the appellant. The appellant prays that PSF (S…

Mumbai International Airport P. Ltd, Mumbai vs. Addl CIT RG 8(2), Mumbai

ITA 2760/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Nov 2016AY 2008-09

Bench: Shri Mahavir Singh & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)Section 40

…aw, the Ld. CIT(A) erred in confirming the disallowance of the provision for leave encashment of Rs.13,782,831/made on the basis of an actuarial valuation by relying on the decision of Calcutta High Court in the case of Exide industries Ltd. v Union of India (292 ITR 470). The appellant prays that the same may be allowed. Ground No. 3: On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the stand of A.O. that the Passenger Service Fee - Security Component [PSF(SC)] of Rs.1,32,58,59,023/- forms part of the taxable income of the appellant. The appellant prays that PSF (S…

Mercury Car Rentals Limited, Kolkata vs. D.C.I.T., Circle-4, Kolkata

In the result, the appeal filed by the assessee is allowed for statistical purpose as stated above

ITA 2696/KOL/2013[2007-2008]Status: DisposedITAT Kolkata31 Oct 2016AY 2007-2008

Bench: Shri M.Balaganesh & Shri S.S. Viswanethra Ravi

Section 43B

…ved that the assessee made provision for leave encashment and claimed Rs.14,62,889/- as deduction. In explanation, the assessee claimed as allowance by relying on the decision of Hon’ble Calcutta High Court in the case of Exide Industries Limited, reported in 292 ITR 470 (Cal), wherein held that provision for leave encashment does not fall under the purview of section 43B of the I.T Act, 1961. According to AO, the Respondent Revenue has not accepted the decision of Hon’ble Calcutta High Court and a SLP was filed before Hon’ble Supreme Court and since the issue has not reached finality, the claim of the assessee w…

Birla Sunlife Asset Management Co. Ltd., Mumbai vs. D.C.I.T. RG. 8(1), Mumbai

The appeal of the assessee is partly allowed for statistical purposes

ITA 2200/MUM/2012[2009-10]Status: DisposedITAT Mumbai25 Oct 2016AY 2009-10

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2009-10 M/S Birla Sun Life Asset Dcit, Management Company Range-8(1), बनाम/ Limited, Mumbai Vs. One India Bulls Centre, Tower 1, 17Th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai-400013 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacb6134D "नधा"रती क" ओर से / Assessee By Shri Yogesh A. Thar राज"व क" ओर से / Revenue By Shri N.P.Singh Cit-Dr

Section 43B

…vision for leave encashment was ascertained liability of the company and the same should not be construed as the item covered by section 43B of the Income Tax Act in view of the decision of the Hon’ble Kolkata High Court in the case of “Exide Industries Ltd.” 292 ITR 470. The AO however, held that the said amount was remained unpaid and therefore the provision for leave encashment was squarely covered under the provisions of section 43B. In appeal, the Ld. CIT(A) also upheld the finding of the AO. 3. Before us, the Ld. A.R. of the assessee has brought our attention to the decision of the co-ordinate Bench of th…

Exide Industries Ltd., Kolkata vs. D.C.I.T Cir - 1, Kolkata.

In the result, the appeal of the assessee is partly allowed as indicated above

ITA 712/KOL/2013[2008-2009]Status: DisposedITAT Kolkata19 Oct 2016AY 2008-2009

Bench: Shri M.Balaganesh & Shri S.S. Viswanethra Ravi

Section 43BSection 43D

…e year under consideration had made a provision of Rs.1.51 crores for leave encashment on the basis of an acturial valuation and the same was claimed as deduction by relying on the decision of the Hon’ble Calcutta High Court in assesese’s own case reported in 292 ITR 470 and the decision of the Hon’ble Supreme Court in the case of Bharat Earth Movers reported in 245 ITR 428. The Assessing Officer, however, disallowed the claim of the assessee for provision of leave encashment relying on the Clause (f) inserted in Section 43B by the Finance Act, 2001 w.e.f. 1s t April, 2002. The ld. CIT(Appeals) confirmed the said…

DCIT, Circle-6, Kolkata vs. Uco Bank, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1281/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 36(1)(viia)

…shment amounting to Rs. 26,26,00,000/- as deduction and also claimed that the same is not required to be disallowed u/s 43B of the Act in view of the decision of the Hon’ble Calcutta High Court in the case of Exide Industries Ltd vs Union of India reported in 292 ITR 470 (Cal). The ld AO observed that the assessee had actually paid leave encashment to the tune of Rs. 86,94,828/- before the due date of filing the return of income and further sum of Rs. 3,52,83,477/- was paid before the end of the previous year. Accordingly he granted deduction for both these sums and disallowed the provision UCO Bank, AY 2008-09 a…

Uco Bank, Kolkata vs. DCIT, Circle -6, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1202/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 36(1)(viia)

…shment amounting to Rs. 26,26,00,000/- as deduction and also claimed that the same is not required to be disallowed u/s 43B of the Act in view of the decision of the Hon’ble Calcutta High Court in the case of Exide Industries Ltd vs Union of India reported in 292 ITR 470 (Cal). The ld AO observed that the assessee had actually paid leave encashment to the tune of Rs. 86,94,828/- before the due date of filing the return of income and further sum of Rs. 3,52,83,477/- was paid before the end of the previous year. Accordingly he granted deduction for both these sums and disallowed the provision UCO Bank, AY 2008-09 a…

Addl CIT 10(2), Mumbai vs. Dow Agrosciences P.Ltd, Mumbai

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

ITA 8092/MUM/2011[2005-06]Status: DisposedITAT Mumbai23 Sept 2016AY 2005-06

Bench: Shri B.R. Baskaran (Am) & Shri C.N. Prasad (Jm)

Section 68

…e up other issues urged in appeal filed for A.Y. 2005- 06. The first issue relates to disallowance of leave encashment under section 43B of the Act. The learned AR submitted that the Hon'ble Calcutta High Court in the case of Exide Industries Limited vs. UOI (292 ITR 470) has held that the provision of section 43B(f) relating to disallowance of "provision for leave encashment" is arbitrary, un-conscionable. Ld. AR further submitted the same view was expressed by Hon'ble Kerala High Court in another decision. 9 M/s. Dow Agrosciences India Pvt. Ltd. 16. On the contrary, the ld. DR submitted that the decision rend…

DCIT, Circle - 8, Kolkata vs. M/S. Tata Steel Processing & Distribution Limited, Kolkata

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

ITA 379/KOL/2012[2008-09]Status: DisposedITAT Kolkata21 Sept 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 143(2)Section 143(3)Section 40

…he order of AO by disallowing the leave encashment u/s 43B of the Act Ld. Counsel for the assessee argued for provision for leave encashment that this issue is pending before Hon’ble Supreme Court in the case of Exide Industries Ltd. Vs. Union of India (2007) 292 ITR 470 (Cal) and fairly conceded that subsequently Hon'ble Supreme Court has stayed this judgment of Hon'ble jurisdictional High Court vide order 08-05-2009 by following observations:- “Pending hearing and final disposal of the Civil Appeals, Department is restrained from recovering penalty and interest which has accrued till date. It is made clear that…

Tata Steel Processing and Distribution Ltd., Kolkata vs. DCIT, Circle - 8, Kolkata

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

ITA 303/KOL/2012[2008-09]Status: DisposedITAT Kolkata21 Sept 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 143(2)Section 143(3)Section 40

…he order of AO by disallowing the leave encashment u/s 43B of the Act Ld. Counsel for the assessee argued for provision for leave encashment that this issue is pending before Hon’ble Supreme Court in the case of Exide Industries Ltd. Vs. Union of India (2007) 292 ITR 470 (Cal) and fairly conceded that subsequently Hon'ble Supreme Court has stayed this judgment of Hon'ble jurisdictional High Court vide order 08-05-2009 by following observations:- “Pending hearing and final disposal of the Civil Appeals, Department is restrained from recovering penalty and interest which has accrued till date. It is made clear that…