ACIT CIR 6(3), MUMBAI vs. HINDALCO INDUSTRIES LTD, MUMBAI
In the result, the appeal of the learned Assessing Officer is partly allowed
ITA 5302/MUM/2013[2007-08]Status: DisposedITAT Mumbai16 Mar 2023AY 2007-08
Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm Addl Cit Range 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Rd, Worli Aayakar Bhavan,M.K. Road, Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Dcit, Cir- 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Aayakar Bhavan,M.K. Road, Rd, Worli Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Pan No. Aaach1201R
For Appellant: ShriFor Respondent: Dr. Samuel Pitta –SR AR
Section 80Section 801ASection 80I
…lowed the same holding that assessee has claimed merely a provision in the books of account. The liability is uncertain. The learned Assessing Officer relied on the decision of the Hon'ble Supreme Court in case of Indian Smelting and refining Co. Ltd. vs. CIT 248 ITR 4. Assessee approached the learned CIT (A), who also found that no event had taken place in the year under consideration. The claim of the assessee is merely a provision. The learned CIT (A) further noted that A.Y. 2012-13, such claim has been made in the return of income. As it is mere provision, disallowance was upheld. On hearing the parties and c…
