ACCC 30, MUMBAI vs. UNITED SHIPPERS LTD, MUMBAI
In the result, appeal filed by the assessee is partly allowed and appeal filed by the AO is dismissed
ITA 3036/MUM/2012[2007-08]Status: DisposedITAT Mumbai26 Apr 2022AY 2007-08
Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm The Asst. Commissioner Of United Shippers Ltd. United India Bldg, 2N D Floor, Sir Income-Tax, Circle-30 R.No. 403, 4Th Floor, P.M. Road , Vs. Aayakar Bhavan, M.K. Marg, Fort, Mumbai-400 020 Mumbai-400 001 (Appellant) (Respondent) Pan No. Aaacu0764C The Asst. Commissioner Of United Shippers Ltd. Income-Tax, Circle-30 United India Bldg, 2N D Floor, Sir R.No. 403, 4Th Floor, P.M. Road , Vs. Ayakar Bhavan, Fort, M.K. Marg, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent)
For Appellant: Shri Madhur Agarwal, AdvocateFor Respondent: Shri Ms. Vatsalaa Jha, CIT DR
Section 14ASection 92Section 92CSection 92C(3)
section 41(1) of the I.T. Act are not applicable to unproved liabilities shown in the balance sheet on the ground that the assessee has offered these liabilities to tax in the F.Y.
2010-11. 10. On the facts and circumstances and in law, the Ld
CIT(A) has erred in holding that unproved liabilities cannot be brought
