Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (4) TMI 1840 - ITAT AHMEDABADTDS u/s 194C - Allowing transmission charges expenses - Addition u/s 40(a)(ia) - assessee has not deduct tax on this payment - HELD THAT:- For assessment year 2007-08 in assessee's own case [2012 (12) TMI 1198 - ITAT AHMEDABAD] has held that the assessee was not liable for deduction of TDS on payment made for transmission charges as held wheeling and transmission charges paid by assessee state electricity distribution company in case of which provisions of Electricity Act 2003 is applicable are not liable for deduction of tax either u/s 194J or 194C . Correct head of income - interest earned on loan and advances from deposit placed with Mega Power Project towards its sharing of power and interest of UL pool account received - business income or capital gain - HELD THAT:- CIT(A) has decided the issue in favour of the assessee stating that this issue was decided in favour of the assessee for assessment year 2009-10. During the course of appellate proceedings, the Revenue has failed to controvert the aforesaid contention and the findings of the ld. CIT(A),therefore after considering the material fact that interest earned on loan and advances from deposit placed with Mega Power Project towards its sharing of power and interest of UL pool account received from M/s. Power Grid Corporation India Ltd were directly related to the business of the assessee ,therefore, this ground of appeal of the Revenue stands dismissed. Disallowance of provision made of employees cost - enhancement of the Book Profit computed under section 115JB on account of disallowance of Expenses - The assessee company has claimed an estimated liability of ₹ 3339.00 lacs being employee cost and accounted the same on accrual basis. The assessing officer has disallowed the impugned claim on the ground that additional liability was yet to be ascertained. With the assistance of ld. representatives, we have gone through the material on record and it is noticed that the assessee company has made this provisions for arrears payable to the employee for the purpose of wage revision to be made according to the 6th Pay commission. The assessee has stated that the employee’s union has submitted their charter of demands and negotiations with the union representatives were in progress during the year. The Ld. Counsel has submitted that identical issue has been decided in favour of the assessee in the case of Gujarat Energy Transmission Corp. Ltd. for A. Y. 2008-08 [2015 (6) TMI 1096 - ITAT AHMEDABAD] In the light of the aforesaid facts and circumstances, we restore this issue to the file of the assessing officer for adjudicating a fresh after consideration Disallowance of prior period expenses - HELD THAT:- It will be appropriate to restore this issue to the file of assessing officer for deciding de-novo after verification/examination of the complete details with specific findings/reasons after affording adequate opportunities to the assessee Disallowance of depreciation of computer - HELD THAT:- This matter which was almost closed due to the submission made by assessee, was revived back by the assessee by raising ground against this addition before ld. CIT(A) and gave various details and documents supporting the ground that depreciation disallowed needs to be re-worked as various types of expenditure which are fully allowable during the year are included in addition of block of assets, computers and similarly there are various machines which are actually eligible for depreciation @ 60% have been subjected to depreciation @ 15% only. We further observe that ld. CIT(A) has looked into this aspect and has open the way for examining the relates facts towards calculation of correct depreciation in the block of assets relating to computers - this issue is also restored to the file of assessing officer for deciding afresh as directed in the aforesaid decision by the Co-ordinate Bench after affording adequate opportunity to the assessee. Therefore, this ground of appeal of the assessee is allowed for statistical purposes.
|