2016-VIL-55-SC-DT

Supreme Court of India

Petition(s) for Special Leave to Appeal (C)......CC No(s). 12104/2016 With S.L.P.(C)...CC No. 12116/2016, S.L.P.(C)...CC No. 12115/2016, S.L.P.(C)...CC No. 12132/2016

Date: 11.07.2016

SEAGRAM DISTILLERIES (P) LTD. (NOW PERNOD RICARD INDIA LTD.)

Vs

COMMISSIONER OF INCOME TAX-III

For the Petitioner : Deepak Chopra, Rashi Khanna, Anmol Anand, Kishore Kunal
For the Respondent :--

BENCH

Kurian Joseph And Rohinton Fali Nariman, JJ.

JUDGMENT

Delay condoned.

While summarizing the legal position the High Court has clearly held that in the case of assessee (petitioner), the actual transit breakages, as and when they occur, are allowable as revenue expenditure in the accounting year in which such breakages occur.

In that view of the matter, we do not find any justification to interfere with the impugned judgment.

The special leave petitions are accordingly dismissed.

Pending application, if any, shall also stands disposed of.

 

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