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TMI Blog2018 (2) TMI 1155X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 260A of the Income Tax Act, 1961 (the Act) challenges the impugned order dated 30th December 2014 passed by the Income Tax Appellate Tribunal (Tribunal) relates to the Assessment Year 2009-10. 2. The Revenue has urged the following questions of law for our consideration:- 1) "Whether on the facts and in the circumstances of the case and in law, Tribunal was correct in holding that amortiza ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 35DDA of the Act"? 3. Re. Question (1): (a) Mr. Tejveer Singh, the learned counsel for the Revenue has very fairly states that issue urged herein stands concluded against the Revenue and in favour of the Respondent - Assessee by virtue of the decision of this Court in CIT Vs. Thane Bharat Sahakari Bank Ltd. ITA No. 1117 of 2013 decided on 17th March 2015. (b) In view of the above decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he fact that there is no dispute that at the end of the financial year 31st March 2009 that is the previous year relevant to AY 2009-10, the provision as claimed by the Respondent of Rs. 11.18 Crores was correct. However, the Assessing Officer has relied upon the unspent provision post 31 March 2003 i.e. 30th September 2009 which shows that out of the provision made on 31st March 2009 of Rs. 11.18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In this case accounts have to accounted at 31 March of each year. The Assessee had made a provision on 31 March 2009 i.e. at the end of the previous year relevant to subject assessment year i.e. 2009-10 and determine profit as on 31 March 2003. Thus the position as exists on 31 March 2009 is due to be considered and not any other date. (e) In the above view, the question (2) as proposed does not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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