Partly allowed
Pr. Cit CENTRAL-3 v. M/S Seagram Distilleries Pvt.Ltd
Delhi HCITA/516/2016
Case brief
AI extract
What is this about?
The Delhi High Court allowed the Revenue's appeal seeking to set aside the ITAT order partly. The Court followed a prior judgment to hold that breakage provisions do not constitute contingent liabilities while noting that brand creation expenditure could not be framed as a question of law in the revenue's favor.
What did the court decide?
The appeal was allowed in part: the impugned order set aside regarding breakage provisions, and the expenditure on brand creation was upheld against the Revenue.