9911796707
TMI Blog2023 (3) TMI 404X X X X Extracts X X X X X X X X Extracts X X X X ..... rising out of assessment order dated 30/03/2013 u/s 147/143(3) of the Income Tax Act, 1961 passed by ACIT, Circle-1(1), New Delhi (hereinafter referred to as the Assessing Officer or 'AO'). 2. The facts of the case is that the assessee is 100% subsidiary of Air India Ltd., Government of India undertaking, company engaged in business of transport of passengers and cargo by Air in the domestic sector. A return declaring loss of Rs. 83.60 crores was filed in the case was selected for scrutiny. The assessment was completed u/s 143(3) by accepting the taxable income however, subsequent to the audit objection proceeding u/s 147 of the Act were initiated by issuance of notice u/s 148 of the Act and thereupon after taking the reply of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration the fact that the assessee had received prior period income in the form of reimbursement and the discount allowed by the vendors or rectification entries passed in the accounts to the extent of Rs. 70,07,775/- against Rs. 93,95,600/- prior period expenses which had crystallized during the year and the net of the debit of Rs. 23,87,858/- have been voluntary added by the assessee to the computation of income. Therefore, Ld. CIT(A) on facts and law following order of co-ordinate bench in DCIT-6, Kanpur vs. UP State Handloom Corporation Ltd. ITA No. 190 and 191/LKW/2014 wherein it was held that if any disallowance is required to be made in regard to it, same can only be made with respect to net prior period expenses debited to the prof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... favour of Revenue. GROUND NO. 3 7. In regard to this ground towards deletion of the addition made by Ld. AO being provisions for maintenance expenses etc., the matter of fact is that in assessee's own case for A.Y. 2006-07 vide ITA no. 6554/Del/2015 order dated 07.12.2017 the issue has been decided in favour of the assessee by following co-ordinate Bench judgment in ACIT vs. M/s. ACIT-5(2), Mumbai vs. Jet Airways (I) Ltd. ITA No. 4402/Del/Mum.2008 dated 6.10.2010 which is also being relied by the Ld. CIT(A). Ld. DR could not cite any distinguishing fact or question of law involved, thus, this ground is decided against the revenue. 8. Consequently, the appeal of revenue is partly allowed. Order pronounced in the open court on 2nd Marc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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