THE DY. CIT,, VIJAYAWADA vs. M/S. THE KRISHNA DISTRICT CO -OPERATIVE CENTRAL BANK LTD,, MACHILIPATNAM
In the result, the appeals of the revenue for the A
ITA 301/VIZ/2017[2011-2012]Status: DisposedITAT Visakhapatnam28 Nov 2018AY 2011-2012
Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018
For Appellant: Sri K.Siva Ram Kumar, ARFor Respondent: Sri D. K. Sonowal,CIT DR
Section 31(1)
delayed receipt of cash flows and hence, should not be reversed to the P&L Account.
The amount of such provision should, therefore, be carried till the account s finally settled and after receipt of the Government's contribution under the Scheme, the amount should be reversed to the General Reserves below the line.”
From the above circular