COMMISSIONER OF INCOME TAX-II vs. GLAND PHARMA LTD.,

In the result, the appeal (ITAT/96/2017) fails and stands

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Section 43B of Income Tax Act, 1961 on account of provision for leave encashment written back and Rs.256.32 lacs on account of foreign exchange fluctuation, a contingent liability and its purported finding in this regard are arbitrary, unreasonable and perverse? b) Whether on the facts and in the circumstances of the case the Learned Income Tax Appellate Tribunal, “B” Bench