The Commissioner of Income-tax, Goa v. Zuari Industries Ltd
[Citation -2020-LL-0102-7]
Citation | 2020-LL-0102-7 |
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Appellant Name | The Commissioner of Income-tax, Goa |
Respondent Name | Zuari Industries Ltd. |
Court | HIGH COURT OF BOMBAY AT GOA |
Relevant Act | Income-tax |
Date of Order | 02/01/2020 |
Judgment | View Judgment |
Keyword Tags | deferred revenue expenditure • amortised expense |
Bot Summary: | JUDGMENT: On 18th April, 2012 this Appeal was Admitted on the following substantial question of law: Whether on the facts and in the circumstances of the case, the ITAT was justified in holding that amount of Rs.88,63,750/- paid to Texmaco, as deferred revenue expenditure allowing the TXA No. 34/2012 2 payment to be amortized for period of eight years 2. Similar question arose in a connected Appeal being TXA NO. 51/2008. The parties agree that the decision in TXA No. 51/2008 shall govern the issue in the present Appeal also. In TXA 51/2008, which is disposed by a judgment of even date, we have answered the point no. The said decision would govern the present Appeal also. For the reasons mentioned in the judgment in TXA No. 51/2008, we pass the following order: The Appeal is partly allowed. The impugned order passed by the ITAT to the extent of issue no. |