R. Devdas J., (Oral v. M/S. Exide Industries Limited, Which Was Decidedon 24.04.2020, In Favour Of The Respondent-Revenue

IN THB HIGH COURT OF KARNATAKAKALABURAGI BENCH DATED THIS THE 17 DAY OK NOVEMBER 2021 | PRESENT THERE HON’BLE MR.JUSTICE R. DEVDA ANT) THE HON’BLE MR.JUSTICK RAJENDRA BADAMIKAR. I.T.A. No.200005/2016 BETWEEN: M/S. KRISHNA GRAMEENA BANK(PRESENTLY PRAGATHI KRISHNA GRAMIN BANK)RBP.BY ITS GKHNBRAL MANAGKRSRI GOPALA NAIKKUSNOOR ROAD, _GULBARGA-585105 PRESENTLYNO.32, SANGANAKAL ROAD,GANDHINAGAR, BALLARI-583103 . APPELLANT| (BY SRI. A. SHANKAR, SENIOR COUNSELFOR S.ANNAMALAI AND SRI M. LAVA, ADVOCATES) AND: ASST.COMMISSIONEBR OF INCOME TAXCIRCLE 1,2 FLOOR, AAYAKAR BHAVANSEDAM ROAD, © GULBARGA-585105 .. RESPONDEN (BY SRI. AMEET KUMAR DESHPANDE, ADVOCATE) THIS [TA IS FILED UNDER SECTION 2J6O0A OF THINCOME TAX ACT, PRAYING TO A)FORMULATE THE)SUBSTANTIAL QUESTIONS OF LAW As STATED ABOVE.AND ANSWER THR SAME IN FAVOR OF THR APPBLLANT..B) TO ALLOW THE APPEAL AND SET ASIDE THE FINDINGS,TO THE EXTENT AGAINST THE APPELLANT, IN THE.ORDER PASSHKHD BY THR, INCOMBE TAX APPELLTRIBUNAL,Cc’BENCH,BENGALURUIN|ITA.NO.592/BANG/2014 DATED-06.05.2016 RELATING TO|ASSESSMENT YEAR 2JO1O-11. THIS APPEAL COMING ON FOR FINAL HEARING,|THIS DAY,R.DEVDAS J©, DELIVERED THE FOLLOWING: JUDGMENT R. DEVDAS J., (ORAL): The substantial question of law that arises for)decision making in this appeal is whether the Tribunalis justified in law in confirming the disallowance ofprovision{Oremployeeleave|encashment|OT Rs.1,23,20,711/- made on the basis of actuarialvaluation by invoking provisions of Section 43B(f) of theAct? 2. Learned Senior Counsel Sri A. Shankar,appearing for the appellant-assessee fairly submits thatthe issue is now covered by a decision of the Hon'bleSupreme Court of India in the case of|Union of India| vs. M/s. Exide Industries Limited, which was decided|on 24.04.2020, in favour of the respondent-Revenue. 3. In that view of the matter, the appeal filed bythe appellant-Assessee stands dismissed. Needless to observe that the allowance will be.eranted in the year of payment. Sd/- JUDGE sdu Sd/- JUDGE