Court No. - 3
Case :- INCOME TAX APPEAL DEFECTIVE No. - 73 of 2018 Appellant :- The Principal Commissioner Of Income Tax Allahabad And Another Respondent :- Bharat Pumps And Compressors Ltd.
Counsel for Appellant :- Gaurav Mahajan Counsel for Respondent :- Rahul Agarwal
Hon'ble Naheed Ara Moonis,J. Hon'ble Saumitra Dayal Singh,J.
1. Heard Sri Gaurav Mahajan, learned counsel for the revenue and Sri Rahul Agarwal, learned counsel for the assessee.
2. Present appeal has been filed by the revenue under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') against the order of the Income Tax Appellate Tribunal, Allahabad Bench, Allahabad dated 06.04.2018 in Income Tax Appeal No. 225/ALLD/2015. By that order, the Tribunal has allowed the assessee's appeal (after earlier remand by this Court). Thus, the Tribunal has accepted the debts written off by the assessee Rs. 4520.19 lakhs on 15.05.2010 and 06.06.2010 for A.Y.
2010-11. In doing so, the Tribunal has relied on an earlier decision of this Court in CIT Vs. U.P. Rajkiya Nirman Nigam Ltd., (2013) 217 Taxman 367 (Allahabad).
4. In the present appeal, same issue has been raised by way of question nos. 1 and 3 framed in the memo of appeal. They read as below:
"1. Whether the Tribunal is justified in allowing deduction to the assessee u/s 36(1)(vii) of the Act without appreciating the fact that assessee had claimed the deduction on the basis of antedated journal vouchers of 31.03.2010 whereas Chairman-cum-Managing Director approved writing off of sale proceed of Rs. 4520.19 lacs on 15.05.2010 and 06.06.2010 respectively which falls in subsequent assessment year i.e. A.Y. 2011-12 and not in A.Y. 2010-11 ?
3. Whether the Tribunal has failed to appreciate that Hon'ble High Court had directed that deduction to the assessee u/s 36(1)(vii) of the Act should be decided on merit and whereas in present case, debt under reference was not actually written off in books of accounts as approval was granted subsequently on 15.05.2010 and 06.06.2010 on the basis of report of the Committee whereas the report of the Committee is dated 06.07.2010 ?"
5. We find that the questions being raised in the present appeal are identical to those dealt with by the coordinate Bench of this Court. Also, we find that no ground to reach any other conclusion as drawn by the coordinate Bench in CIT Vs. U.P. Rajkiya Nirman Nigam Ltd. (supra).
6. In view of the above, present writ petition lacks merit and is accordingly dismissed.
Order Date :- 21.9.2021 Abhilash