TMI Blog2017 (9) TMI 1528X X X X Extracts X X X X X X X X Extracts X X X X ..... able under Section 37 of the Act. See The Commissioner of Income Tax – 6, Mumbai v. M/s. Glaxo Smithkline Pharmaceuticals [2013 (3) TMI 759 - BOMBAY HIGH COURT] Addition in the Assessee's book profit computed u/s 115JB - Held that:- The order of the High Court for AY 1996-97 had remanded the issue to the AO for fresh consideration. It is pointed out that, on remand, the AO passed the order accepting the plea of the Assessee. Consequently, on this issue also, this Court also declines to frame a question. - ITA No. 737/2017 - - - Dated:- 18-9-2017 - S. Muralidhar And Prathiba M. Singh, JJ. For the Appellant : Mr. Rahul Chaudhary, Senior Standing Counsel with Mr. Sanjay Kumar, Junior Standing Counsel For the Respondent : Mr. Sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns to the Assessee's book profit computed u1s l l5JB of the Income Tax Act. 1961 on following counts? :- a. ₹ 35,20,25,056 made by the AO on account of disallowance of amortization of premium paid on securities. b. ₹ 27,16,60,199 made by the AO on account of disallowance of depreciation on securities including loss of ₹ 9,83,66,579/- on shifting of securities from AFS to HTM category. c. ₹ 38,02,52,097 made by the A0 on account of contribution made by the Assessee to Punjab Sind Bank Employees Pensions Fund Trust. 5. The first issue, concerning the deletion of addition of ₹ 35,20,25,056/- made by the AO on account of disallowance of amortization of premium paid on securities, stands co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns to the pension funds may not be allowable under Section 36 (1) (iv) of the Act, the same is allowable under Section 37 of the Act. 8. Learned counsel for the Revenue has been unable to point out to the Court any view contrary to the one taken by the Bombay High Court. 9. It appears that although no appeal was filed by the Revenue against the order of the Bombay High Court in M/s. Glaxo Smithkline Pharmaceuticals (supra), the Revenue has filed Special Leave Petitions before the Supreme Court against the subsequent orders passed in 2013. However, no stay has been granted thereof. Consequently, the Court declines to frame a question on this issue. 10. On the fourth issue of deletion of the addition in the Assessee's book profit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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