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2021 (8) TMI 1100 - AT - Income TaxDisallowance of claim of business loss - loss if not allowed in the year under consideration then it be allowed in A.Y. 2015-16 - HELD THAT:- It is an undisputed fact that the aforesaid amount which has been disallowed by the AO represents the compensation paid by the assessee to Ms Susan Beer on account of the decision of the Hon’ble Delhi High Court. It is also an undisputed fact that the payment of the aforesaid amount arose on account of the decision of Hon’ble Delhi High Court which was pronounced on 30.05.2014. It is also an undisputed fact that out of the total compensation amount of ₹ 5,28,80,795/- was deposited with the Registrar of High Court during the year under consideration and the balance amount of ₹ 2,40,56,079/- was deposited with the Registrar on 26.08.2014. The incurring of expenditure is not in doubt and genuineness of the claim is not in dispute - the amount that was paid during the year under consideration i.e. ₹ 5.28 crore (rounded off) be allowed as an expense in the year under consideration and the balance amount of ₹ 2.40 crore (rounded off) which was deposited with the Registrar High Court be allowed as deduction in A.Y. 2015-16. Thus the claim of the assessee is allowed.
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