HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.270 of 2014 Date: 17-04-2014 Between:
The Commissioner of Income Tax-I Hyderabad . Appellant AND A.P. Meat Development Corporation Ltd., Hyderabad.
...Respondent HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.270 of 2014 JUDGMENT: (per Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta ) We have heard the learned Counsel for the appellant and gone through the judgment and order of the learned Tribunal.
In this case, the learned Tribunal on a concurrent fact- finding has held that the liability to pay the amount to the L.I.C. had in fact crystallized during the year under consideration and the expenditure has been incurred by the assessee on the direction of the Government of Andhra Pradesh. Therefore, the genuineness of the expenditure cannot be doubted and in this view, it is an expenditure though relatable to the earlier year, the same is allowable in the year under consideration and since the liability to incur the same has arisen and crystallized. We, therefore, do not find any element of law to decide this appeal.
Accordingly, the appeal is dismissed. No order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J
17-04-2014
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