Rotork Controls India Pvt. Ltd. v. CIT

314 ITR 62Supreme Court of India2009#69 most cited

What is Rotork Controls India Pvt. Ltd. v. CIT authority for?

A provision for expenses, such as warranty, is a deductible liability for income tax purposes if it constitutes a present obligation arising from past events, and a reliable estimate of the amount of obligation is possible.

739

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2009 to 2026.

Also referred to as

Rotork Controls India Pvt. Ltd. v. CIT · 314 ITR 62 · Section 37(1) · provision for warranty expenses · allowability of provision · definition of liability · present obligation · reliable estimate · mercantile system of accounting · revenue expenditure deduction

Also reported as

223 CTR 425

Sections most often in play

Section 143(3)Section 37(1)Section 40(a)(ia)Section 115JBSection 14ASection 147Section 234CSection 40(a)(i)

Issues it is cited on

section 35denduring benefitsection 32(1)put to useblock of assetssection 40(a)(i)intangible assetsmercantile system of accountingsection 35section 37(1)section 32revenue expenditure

Judgments citing Rotork Controls India Pvt. Ltd. v. CIT

M/S Enexio Power Cooling Solutions India Pvt Ltd (Formerly Known As M/S Gea Cooling Tower Technologies (India) P Ltd, Chennai vs. ACIT (OSD) Corp Range 2, Chennai

In the result, the assessee’s appeal is partly allowed

ITA 509/CHNY/2018[2014-15]Status: DisposedITAT Chennai06 Aug 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. No. 509/Chny/2018 "नधा"रणवष"/Assessment Year : 2014-15

For Appellant: Shri Saroj Kumar Parida, AdvocateFor Respondent: Mrs. Ruby George, CIT

…tion under section 37 of the Act for provision for future warranty. The Assessing Officer opined that provision for future warranty is contingent liability and cannot be allowed. The Hon’ble Supreme Court in the case of Rotork Controls India Pvt., Ltd. v. CIT 314 ITR 62, held that the provision made by the assessee for warranty claims on the basis of past experience is allowable deduction under section 37 of the Act. In the case of Bharat Earth Movers v. CIT 245 ITR 428, the Hon’ble Supreme Court held that where the assessee has incurred expenditure which is more than the provision for warranty obligation made in…

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

…ccounting 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 Hon’ble Supreme Court has inter alia laid down the following criteria for determining the deductibility for provision of warranty: • An enterprise has an obligation as on the date of sale, if the past experience or past event so suggests; • There is probability that there will be an outflow of resource required, to settle the obliga…

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

…ccounting 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 Hon’ble Supreme Court has inter alia laid down the following criteria for determining the deductibility for provision of warranty: • An enterprise has an obligation as on the date of sale, if the past experience or past event so suggests; • There is probability that there will be an outflow of resource required, to settle the obliga…

The Pr. Commissioner of Income Tax vs. M/S. Acer India Pvt Ltd

ITA/356/2016HC Karnataka25 Jun 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…oner of Income-tax CIT[A] & another Vs. M/s. Acer India Pvt. Ltd. 6/25 of computing the warranty provision and it has been followed consistently. 11.3 The decision of the Hon’ble Supreme Court in the case of Rotork Controls India Pvt. Ltd., 314 ITR 62 would be squarely applicable to the facts of the case. The Hon'ble Supreme Court has held that provision made on pase experience is a scientific method and is the most appropriate method. The relevant extract of the decision is provided below: ‘In this case, we are concerned with Product Warranties. To give an example of Product Warr…

The Commissioner of Income-Tax vs. M/S Acer India Pvt. Ltd

ITA/243/2012HC Karnataka25 Jun 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…ollowed consistently. Date of Judgment 25-06-2018, ITA No.243/2012 The Commissioner of Income Tax & another Vs. M/s. Acer India Pvt. Ltd. 6/26 11.3 The decision of the Hon’ble Supreme Court in the case of Rotork Controls India Pvt. Ltd., 314 ITR 62 would be squarely applicable to the facts of the case. The Hon'ble Supreme Court has held that provision made on pase experience is a scientific method and is the most appropriate method. The relevant extract of the decision is provided below: ‘In this case, we are concerned with Product Warranties. To give an example of Product Warr…

DCIT, Gurgaon vs. M/S. Carrier Air Conditioning & Refrigeration Ltd., Gurgaon

The appeal is allowed

ITA 4233/DEL/2015[2004-05]Status: DisposedITAT Delhi20 Jun 2018AY 2004-05

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishidcit, Vs. Carrier Air Conditioning & Circle-1(1), Refrigeration Ltd, Gurgaon Kherhi Daula, Po- Barsinghpur, Gurgaon Pan: Aaacc8414B (Appellant) (Respondent)

For Appellant: Mr. Parth, AdvFor Respondent: Ms. Ashmia Neb, Sr. DR
Section 143(3)Section 148Section 37

…t was stated that it is a liability in present and is not a contingent liability. Further, the assessee contended that the allowability of this deduction is covered by the decision of the Hon'ble Supreme Court in case of Rotork Controls India Pvt. Ltd Vs. CIT 314 ITR 62. The ld AO rejected the explanation and held that provision of warranty is not allowable deduction as it is a contingent liability. He therefore, disallowed Rs. 21406000/-. The order u/s 143(3) read with section 148 of the Act was passed on 30.12.2011 making the above disallowances. 3. The assessee contested the above disallowance before the ld CI…

M/S. Keihin Panalfa Ltd., Gurgaon vs. ACIT, New Delhi

In the result the appeal of the Department stands partly

ITA 1790/DEL/2014[2009-10]Status: DisposedITAT Delhi19 Jun 2018AY 2009-10

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri R.K. Kapoor, CAFor Respondent: Shri Sanjay I. Bara, CIT DR, Smt. Namita Panday, Sr. DR
Section 40A(2)(b)

…rovision on a scientific and reasonable basis in earlier years, which have all been allowed year after year from A.Y. 2006-07 to 2008-09. Therefore, by following the judgment of the Hon’ble Supreme Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT, 314 ITR 62 as also other judgments referred to at page 31 of DRP order, the proposed action of the AO in the draft assessment order has not been approved by the DRP. The learned DRP has held as under: “The arguments of the taxpayer have been considered by the Panel. It is seen from the annual account of the taxpayer that the provisions for warranties are reg…

ACIT, New Delhi vs. M/S. Keihin Panalfa Limited, New Delhi

In the result the appeal of the Department stands partly

ITA 1201/DEL/2014[2009-10]Status: DisposedITAT Delhi19 Jun 2018AY 2009-10

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri R.K. Kapoor, CAFor Respondent: Shri Sanjay I. Bara, CIT DR, Smt. Namita Panday, Sr. DR
Section 40A(2)(b)

…rovision on a scientific and reasonable basis in earlier years, which have all been allowed year after year from A.Y. 2006-07 to 2008-09. Therefore, by following the judgment of the Hon’ble Supreme Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT, 314 ITR 62 as also other judgments referred to at page 31 of DRP order, the proposed action of the AO in the draft assessment order has not been approved by the DRP. The learned DRP has held as under: “The arguments of the taxpayer have been considered by the Panel. It is seen from the annual account of the taxpayer that the provisions for warranties are reg…

Toshiba India Pvt. Ltd., Gurgaon vs. ACIT, Circle- 25(2), New Delhi

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

ITA 1438/DEL/2018[2009-10]Status: DisposedITAT Delhi18 Jun 2018AY 2009-10

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Upvan Gupta, AdvFor Respondent: Shri S.K. Ambastha, CIT-DR
Section 143(3)Section 40

…ingly, net amount of Rs.7,26,60,664/- was added while computing the taxable income. The assessee placed strong reliance upon the judgment of Hon'ble Supreme Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT, 10 I.T.A. No.1438/Del/2018 reported in 314 ITR 62 (SC) and other decisions. The Assessing Officer noted that the assessee has voluntarily and suo motu disallowed amount of Rs.9,80,20,092/- on account of provision for warranty at the time of filing of income tax return and the claim was not made through revised return but through return representation during the proceedings before the Tribunal. He…

Humboldt Wedag India Pvt. Ltd., Delhi vs. ACIT, New Delhi

In the result ITA 3207/Del/2016 stands allowed

ITA 3207/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Jun 2018AY 2011-12

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri Sanjay I. Bara, CIT DRFor Respondent: Shri Rajneesh Verma, CA
Section 143(1)Section 154(3)Section 92C

…ITA 1057/D/16, 567/Kol/15, 494/Kol/15, 1154/D/16, 3207/D/16 business loss to the appellant; (ii) It is an allowable deduction in accordance with the principles laid down by the Hon’ble Supreme Court in the case of Rotork Controls India (P) Ltd Vs CIT [2009] 180 Taxmann 422 (SC) i.e. reliable estimation, outflow of resources, fulfils matching concept; (iii) Without prejudice to the above, the Ld. AO should be directed to allow the deduction in the next assessment year [i.e. Assessment Year 2011-12] as per directions of the Hon’ble DRP.” 4. The Ld. AR submitted that ground nos. 1 and 3 in the department’s appea…

Humboldt Wedag India Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result ITA 3207/Del/2016 stands allowed

ITA 1154/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Jun 2018AY 2011-12

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri Sanjay I. Bara, CIT DRFor Respondent: Shri Rajneesh Verma, CA
Section 143(1)Section 154(3)Section 92C

…ITA 1057/D/16, 567/Kol/15, 494/Kol/15, 1154/D/16, 3207/D/16 business loss to the appellant; (ii) It is an allowable deduction in accordance with the principles laid down by the Hon’ble Supreme Court in the case of Rotork Controls India (P) Ltd Vs CIT [2009] 180 Taxmann 422 (SC) i.e. reliable estimation, outflow of resources, fulfils matching concept; (iii) Without prejudice to the above, the Ld. AO should be directed to allow the deduction in the next assessment year [i.e. Assessment Year 2011-12] as per directions of the Hon’ble DRP.” 4. The Ld. AR submitted that ground nos. 1 and 3 in the department’s appea…

ACIT, New Delhi vs. M/S. Humboldt Wedag India Pvt. Ltd., New Delhi

In the result ITA 3207/Del/2016 stands allowed

ITA 1057/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Jun 2018AY 2011-12

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri Sanjay I. Bara, CIT DRFor Respondent: Shri Rajneesh Verma, CA
Section 143(1)Section 154(3)Section 92C

…ITA 1057/D/16, 567/Kol/15, 494/Kol/15, 1154/D/16, 3207/D/16 business loss to the appellant; (ii) It is an allowable deduction in accordance with the principles laid down by the Hon’ble Supreme Court in the case of Rotork Controls India (P) Ltd Vs CIT [2009] 180 Taxmann 422 (SC) i.e. reliable estimation, outflow of resources, fulfils matching concept; (iii) Without prejudice to the above, the Ld. AO should be directed to allow the deduction in the next assessment year [i.e. Assessment Year 2011-12] as per directions of the Hon’ble DRP.” 4. The Ld. AR submitted that ground nos. 1 and 3 in the department’s appea…

M/S.Allianz Cornhill Information Services P. Ltd, Trivandrum vs. The DCIT, Trivandrum

In the result, ground Nos

ITA 489/COCH/2016[2012-13]Status: DisposedITAT Cochin24 May 2018AY 2012-13

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Raghunathan S, AdvocateFor Respondent: Sri. Santhom Bose, CIT-DR
Section 143(2)Section 143(3)Section 144C(2)(b)Section 156Section 2Section 36(1)(va)Section 40

…estimate and past ITA No.489/Coch/2016 & SA 60/Coch/2017. 8 M/s.Allianz Cornhill International Services Pvt.Ltd. years trend. The learned AR had relied on the judgment of the Hon’ble Supreme Court in the case of Rotork Controls India (p.) L.d v. CIT [(2009) 314 ITR 62 (SC)]. We noticed with regard to the expenditure of Rs.1,12,19,079, the assessee had complied with the TDS provision before the due date of filing of the return, hence, there could not have been disallowance u/s 40(a)(ia) of the I.T.Act. The question is whether the provision created for such an amount is part of scientific estimate and past years…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…

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

…re us in the present appeal. 10.8 The ld. CIT-DR submitted that the provision for bonus card liability cannot be allowed as a deduction as the ratio of decision of Hon’ble :- 36 -: Supreme Court in the case of Rotork Controls India (P.) Ltd. v. CIT [2009] 314 ITR 62 (SC) is not applicable to the facts of the present case. On the other 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…