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2021 (4) TMI 871 - HC - Income TaxProvision made for post-retirement medical expenses by the assessee - HELD THAT:- It is not in dispute that the Tribunal, based on its own decision in assessment year 2009-2010, decided the same in favour of the assessee. Tribunal notes that via its decision for assessment year 2009-2010, it concluded that the post-retirement medical scheme provision created a definite liability. In this behalf, Accounting Standard [AS] 15 issued by the ICAI is taken note of. We are informed by Mr. Ajit Sharma, learned senior standing counsel, who appears for the revenue that the revenue did carry the aspects referred to in paragraph 2 above in appeal to this Court in an earlier round with respect to the aforementioned aspects. As the provision for postretirement medical expenses was concerned, this Court [2018 (9) TMI 2021 - DELHI HIGH COURT]has ruled that no substantial question of law arose vis-a-vis the said aspect. Interest income, which is sought to be taxed in the hands of the assessee, although, the same has already been offered to tax by various cooperative societies - HELD THAT:- Tribunal, in paragraph 8 of the impugned order, has noted that the assessing officer made inquiries with the concerned cooperative societies and found that they had offered to tax, interest, which accrued to them In view of this finding of fact, in our view, the same income [i.e., interest] cannot be taxed in the hands of the assessee.Accordingly, we are of the view that insofar as the third aspect is concerned, no substantial question of law arises. Appeal admitted on second aspect - Whether the Tribunal misdirected itself in law and on facts in deleting from the taxable income of the assessee interest which accrued to Cooperative Electrical Supply Society Ltd., Siricilla?
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