M/S. KUNNEL ENGINEERS AND CONTRACTORS (P) LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed and remanded with the observations as

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

disallowed the outstanding liability and has added back to the income of the Assessee for the respective assessment year. ITA Nos.62/2020, 66/2020 -7- The Assessee filed an appeal before the Commissioner of Income Tax (Appeals) (for short, ‘CIT (Appeals)), and the Appellate Authority examined the legality of the application of Section 43B of the Act to the circumstances on hand

M/S.APOLLO TYRES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX