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Pr. CIT, Central-3 Versus M/s Seagram Distilleries Pvt. Ltd.

Provision for breakage in transit - whether amounts to provisioning for contingent liability? - Held that:- It is not in dispute that it stands covered in favour of the Revenue by the decision of this Court in Seagram Distilleries Pvt. Ltd. v. CIT (2015 (10)491 - DELHI HIGH COURT). Consequently, the appeals are admitted as far as this question is concerned and the question is answered in the negative i.e. in favour of the Revenue and against the Assessee. The impugned order of the ITAT to that e .....

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Adv For the Respondent : Mr Deepak Chopra and Mr Amit Shrivastava, Adv ORDER CM No.11991/2016 in ITA 224/2016 CM No.11993/2016 in ITA 225/2016 1. For the reasons stated in the applications, the delay in filing the appeals is condoned. 2. The applications are disposed of. ITA 224/2016 ITA 225/2016 3. These two appeals by the Revenue are directed against the common order dated 10th July, 2015 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA Nos. 5178/Del/2010 and 1846/Del/2012 for the .....

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s far as the first issue is concerned it is not in dispute that it stands covered in favour of the Revenue by the decision of this Court dated 6th October, 2015 in Seagram Distilleries Pvt. Ltd. v. CIT (2015) 378 ITR 581 (Del). Consequently, the appeals are admitted as far as this question is concerned and the question is answered in the negative i.e. in favour of the Revenue and against the Assessee. The impugned order of the ITAT to that extent is set aside. 6. As far as the second question is .....

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