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2019 (3) TMI 64 - HC - Income TaxComputation of income from the project under the Slum Rehabilitation Scheme - entitled for deduction of the provision of the liability with respect to construction of municipal staff quarters/ road depot and compound wall - Tribunal disallowed assessee's claim of expenditure on the ground that, liability in question had not crystallized - HELD THAT:- The view of the Tribunal was that, the liability was a contingent one, depending upon assessee being put in vacant possession of land where construction would be carried out. We do not find that, the Tribunal has committed any error. A liability which is contingent and which has not crystallized, would not be allowed as an expenditure. It is in this context, the Tribunal found that the assessee's liability to carry out construction, free of cost had not yet crystallized since it was contingent upon the authorities being able to give vacant possession of the portion of the plot on which, such construction would be carried out. The record suggests that such portion was occupied by the slum dwellers who were resisting their eviction. Whatever be the reason, the Slum Rehabilitation Authority was unable to put assessee of vacant possession in said area for years together.
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