TMI Blog2021 (9) TMI 645X X X X Extracts X X X X X X X X Extracts X X X X ..... diture as it is not a liability of contingent in nature. Once the amount has been held it to be allowable as not being in contingent nature, the effect of the same will be that since it is not in the nature of contingent liability, it cannot be added to the book profits u/s 115JB of the Act. We thus find force in the submissions of Ld AR that the Ground No.3 [ 2021 (1) TMI 741 - ITAT DELHI] shoul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Del/2016 for Assessment Year 2009-10. 2. In the MA, the assessee has inter alia contended that a common order dated 19.01.2021 was passed by the Hon ble Tribunal in ITA No.6194/Del/2015 463/Del/2016. It is the submission of the Ld AR that in appeal bearing ITA No.463/Del/2016, the Ground No.3 was with respect to the confirmation of disallowance of ₹ 2,47,68,964/- on account of the provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der whereby he added the aforesaid amount of ₹ 2,47,48,964/- to the book profits by holding it to be a contingent liability. Thus the issue in the appeal was firstly the aforesaid amount is not a contingent liability and secondly even if it for the time being is assumed to be a contingent liability, the issue of it be a contingent liability or an ascertained liability to be debatable and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. We have heard the rival submissions and perused the material on record. We find that vide Para 20 of the order (in ITA No. 6194/Del/2015) in respect of amount of ₹ 2,47,68,964/-, we have for the reasons stated therein have held the aforesaid amount to be allowable expenditure as it is not a liability of contingent in nature. Once the amount has been held it to be allowable as not bein ..... X X X X Extracts X X X X X X X X Extracts X X X X
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