Calcutta High Court
Commissioner Of Income Tax vs M/S.Ernst & Yong Pvt. Ltd on 20 April, 2010
Author: Kalyan Jyoti Sengupta
Bench: Kalyan Jyoti Sengupta
ITA No. 78 OF 2009
IN THE HIGH COURT AT CALCUTTA
SPECIAL JURISDICTION (INCOME TAX)
ORIGINAL SIDE
COMMISSIONER OF INCOME TAX, KOLKATA-III, KOLKATA.
Versus
M/S.ERNST & YONG PVT. LTD.
BEFORE:
The Hon'ble JUSTICE KALYAN JYOTI SENGUPTA
The Hon'ble JUSTICE KALIDAS MUKHERJEE Date : 20th April, 2010.
The Court :-Having heard Mr. M.P.Agarwal, Learned Senior Counsel for the appellant and having gone through the impugned judgment and order we are of the view that substantial questions of law are involved in this matter.
Hence, we admit the appeal on those following points of law ;-
i) Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is correct in deleting the disallowance of Rs.1,24,35,722/- written off as bad debts and Rs.56,63,263/- being bad debts in respect of the amounts due from the foreign concerns as the assessee could not prove that they became bad and the permission of the Reserve Bank of India was not obtained as the foreign exchange was involved ?
2ii) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in deleting the disallowance of Rs.8,01,430/- being provision for leave encashment inadmissible in terms of section 43B(f) of the Income-tax Act, 1961, as the amounts were not paid before the due date of the submission of the return?
Let department concerned issue usual Notice-of-Appeal. Let requisite number of paper books be filed within eight weeks from date.
Liberty to mention for early hearing. All parties are to act on a xerox signed copy of this order on the usual undertakings.
(KALYAN JYOTI SENGUPTA, J.) (KALIDAS MUKHERJEE, J.) GH.