2023 (5) TMI 1111 - AT - Income Tax

Provision made to Shahenshah Scheme - whether contingent liability and therefore not allowable for deduction? - HELD THAT:- Co-ordinate Bench of Tribunal, while deciding identical issue in assessee’s own case for A.Y. 2006-07 has given a finding that the provision created by the assessee is on a scientific basis. Before us, no distinguishing feature in the facts of the case under consideration and that of earlier years has been pointed by Revenue. Revenue has also not placed any material to demonstrate that the order in assessee’s own case for earlier years has been set aside/stayed/overruled by higher judicial forum. No reason to interfere with the order of CIT(A) and thus the grounds of Revenue is dismissed.