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2022 (6) TMI 688 - AT - Income TaxDisallowance of Provision for Entry Tax - HELD THAT:- Assessee had paid advance entry tax to the tune of Rs. 1,44,64,585/- which is shown under the other current asset under Schedule ‘E’ of balance sheet and during the year entry tax of Rs. 8,95,771/- debited into profit and loss A/c and also shown the said entry tax amount under the current liabilities, as the assessee already advance payment was made under entry tax and such provision will be adjusted from advance entry tax after disposal of writ petition which is still pending before the Hon’ble Gauhati High Court and the assessee had already paid the entry tax in advance, although the said provision was made only for adjustment after the disposal of the writ petition by the Hon’ble Gauhati High Court and accordingly we allowed Rs. 8,95,771/- on account of provision of entry tax made by the assessee since assessee had already paid advance entry tax. As made clear that the provision made by the assessee will be adjusted from the advance payment entry tax after the disposal of the writ petition which is still pending before the Hon’ble Gauhati High Court and consequential tax effects should be taken into consideration in terms of such order passed by the Hon’ble Gauhati High Court. Appeal of assessee allowed.
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