TMI Blog2021 (3) TMI 253X X X X Extracts X X X X X X X X Extracts X X X X ..... n. Considering the principles of natural justice and the fact that the A.O should not be deprived to verify and examine the claims. We set-aside the order of the Ld.CIT(A) and restore the disputed issue to the file of the A.O for limited purpose to verify and examine the evidences and allow the claim of the assessee. The grounds of appeal of the assessee are allowed for statistical purposes. - ITA Nos. 4307/Mum/2019 (A.Y: 2016-17) - - - Dated:- 2-2-2021 - SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Appellant by: Shri Aditya Ajgankar, AR Respondent by: Shri Sajit V. Nair, Sr. DR ORDER PER PAVAN KUMAR GADALE: The assessee has filed the appeal against the order of the Commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15JB of the Act of ₹ 23,58,04,996/-. Subsequently the case was selected for scrutiny under the CASS and notice u/sec143 (2) and u/sec142 (1) of the Act along with questionnaire were issued. In compliance the Ld. AR of the assessee appeared from time to time and submitted the details. The A.O. on perusal of the financial statements found that, the assessee has made provision for gratuity u/s 40A(7) of the Act and hence the A.O. is of the opinion that for the purpose of computation of Book profits u/s 115JB of the Act, the provisions made in the Books Of Accounts shall be added for calculation of MAT. Whereas, the assessee has debited an amount of ₹ 43,30,736/- in the profit and loss account as provision for gratuity in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the details with the CIT(A) and the Ld.AR supported his arguments with the paper book and judicial decisions. 5.Contra, the Ld.DR argued that the assessee has not submitted the details of actuarial value of gratuity liability in the Assessment proceedings and therefore the A.O has considered it as unascertained liability. 6. We heard the rival submission and perused the material on record. The sole matrix of the disputed issue as envisaged by the Ld.AR with regard to the addition of provision for gratuity treated as unascertained liability for calculation of Book profits u/s 115JB of the Act. The Ld. AR referred to actuarial valuation of the gratuity liability at page 2 to 9 of the paper book. The contentions of the Ld. AR that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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