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2021 (6) TMI 151 - KARNATAKA HIGH COURTDisallowance of deduction claimed in respect of transitional liability - scientific method adopted for ascertaining the transitional liability of Home Travel Concession (HTC) and Leave Fare Concession (LFC), Silver Jubilee Awards and Re settlement expenses - as per ITAT making the provision for transitional liability without uncertainty is not possible in respect of these expenses and, therefore, these transitional liabilities are rightly held as contingent liability - HELD THAT:- Tribunal has not adverted to the submissions made on behalf of the assessee which is evident from the written submissions, a copy of which has been produced before us. The Tribunal has affirmed the findings of the Commissioner of Income Tax (Appeals) in a cryptic and cavalier manner. Therefore substantial question of law No.1 is answered in favour of the assessee.
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