| COURT: | Bombay High Court |
| CORAM: | A. K. Menon J., S. C. Dharmadhikari J |
| SECTION(S): | 263, 36(1)(viii) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Creation of reserve, Revision |
| COUNSEL: | Aarti Sathe, Arun Sathe |
| DATE: | September 12, 2014 (Date of pronouncement) |
| DATE: | October 4, 2014 (Date of publication) |
| AY: | 2003-04 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Creation of a reserve was sufficient to entitle the assessee to claim the benefit u/s 36(1)(viii) and the assessee was not obliged to maintain the said reserve | |
This court held in the matter of Grasim Industries Ltd. (supra) that the condition precedent to the exercise of jurisdiction under section 263 was that the order sought to be revised must be erroneous insofar as it was prejudicial to …
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