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2015 (7) TMI 984 - AT - Income TaxDisallowance on account of provision for leave encashment under section 43B - Held that:- It will be proper to dispose of this appeal in the light of the order of the Hon'ble Supreme Court in the case of "CIT vs. Exide Industries Ltd." (2009 (5) TMI 894 - SUPREME COURT. We therefore dispose of the present appeal with a direction that the assessee will pay the tax as if section 43B(f) is on the statute book, however, till the decision of the Hon'ble Supreme Court in the case of "CIT vs. Exide Industries Ltd." (supra), the Revenue will not recover the penalty and interest which may accrue till the decision of the appeal by the Hon'ble Supreme Court in the case of "Exide Industries Ltd." It would be open to the Department to recover the outstanding interest demand in case the Civil Appeal of the Department in the case of "Exide Industries Ltd." (supra) is allowed by the Hon'ble Supreme Court. Subject to our above observations, the matter is restored to the file of the AO to be adjudicated afresh as per the decision of the Hon'ble Supreme Court in the case of "Exide Industries Ltd." (supra). - Decided partly in favour of assessee for statistical purposes.
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