IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 14TH AUGUST 2009 / 23RD SRAVANA 1931 ITA.No. 1191 of 2009() ---------------------- ITA.669/2007 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: --------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S)/RESPONDENT: ---------------------------------- BSES KERALA POWER LTD., UDYOGAMANDAL, KOCHI-683 501. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 14/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. ----------------------------------- I.T.A. No.1191 of 2009 ----------------------------------- Dated this the 14th day of August, 2009 J U D G M E N T ---------------------- Ramachandran Nair,J. Heard the senior counsel appearing for the appellant. Question raised pertains to assessee's entitlement for deduction of Rs.2450 lakhs in the computation of book profit under 115JB of the Income Tax Act. It is seen from the findings of the first appellate authority and Tribunal that the expenditure claimed is based on arbitration award partly confirmed by the District Court. The only contention of the Revenue is that the matter was carried in appeal by KSEB to Supreme Court and liability arose only after Supreme Court dismissed the appeal. We are unable to accept this contention because the award had become final and based on the arbitration award confirmed by the District Court and High Court the assessee is entitled to claim the expenditure. We therefore hold that the findings of the CIT (Appeals) as confirmed by the Tribunal is perfectly in order. The appeal is consequently dismissed. C.N.RAMACHANDRAN NAIR, JUDGE. C.K.ABDUL REHIM, JUDGE. okb