TMI Blog2022 (6) TMI 688X X X X Extracts X X X X X X X X Extracts X X X X ..... said provision was made only for adjustment after the disposal of the writ petition by the Hon ble Gauhati High Court and accordingly we allowed Rs. 8,95,771/- on account of provision of entry tax made by the assessee since assessee had already paid advance entry tax. As made clear that the provision made by the assessee will be adjusted from the advance payment entry tax after the disposal of the writ petition which is still pending before the Hon ble Gauhati High Court and consequential tax effects should be taken into consideration in terms of such order passed by the Hon ble Gauhati High Court. Appeal of assessee allowed. - ITA No.252/Kol/2021 - - - Dated:- 9-6-2022 - SHRI MANISH BORAD, HON BLE ACCOUNTANT MEMBER AND SHRI SONJOY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... craves leave for the permission to add, delete or amend the grounds of appeal before or at the time of hearing of Appeal. 2. The assessee in the present case is a firm which is engaged in the business of manufacturing of coke. The return of income for the year under consideration was filed by it on 29.11.2014 declaring its total income at Nil. In the assessment originally completed u/s 143(3) vide an order dated 27.12.2016, the total income of the assessee was determined by the Assessing Officer at Rs. 43,13,44,440/-. Thereafter, proceeding u/s 263 was initiated by the Ld. PCIT and order was passed on 20.02.2019. In terms of order passed by ld. PCIT, the assessment u/s 143(3) r.w.s. 263 was completed by the AO on 25.06.2019. After ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under entry tax and such provision will be adjusted from the advance entry tax after disposal of writ petition. 6. On the other hand, the ld. DR relied on the order of Ld. CIT, National Faceless Appeal Centre. 7. We after going through the material available on record and submission made by the parties it reveals that the assessee had paid advance entry tax to the tune of Rs. 1,44,64,585/- which is shown under the other current asset under Schedule E of balance sheet and during the year entry tax of Rs. 8,95,771/- debited into profit and loss A/c and also shown the said entry tax amount under the current liabilities, as the assessee already advance payment was made under entry tax and such provision will be adjusted from advance ent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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