Held that the same methodology had been adopted consistently with respect to the deletion of disallowance made under section 36(1)(viii) for the previous eight years and had been accepted by the Department without any objection. Therefore, the Tribunal did not error in deleting the disallowance made u/s. 36(1)(viii) for the assessment year 2010-11.SLP of revenue dismissed. (AY. 2010-11)
PCIT v. PNB Housing Finance Ltd [2024] 297 Taxman 229 /] 461 ITR 481 (SC) Editorial : PCIT v. PNB Housing Finance Ltd [2023] 146 taxmann.com 445 / [2024] 461 ITR 476 (Delhi)(HC)
S. 36(1)(viii) : Eligible business-Special reserve-Rule of consistency-Methodology consistently adopted-deduction allowed for earlier assessment years attaining finality-Deletion of disallowance is affirmed-SLP of Revenue dismissed. [S.145]