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2013 (9) TMI 894 - HC - Income TaxExcessive Expenses - transaction with related parties - disallowance u/s 40A(2) - Price paid by the assessee to sister concern for electricity is excessive or not – Held that:- Tribunal viewed that such an isolated instance could not be a basis for making a meaningful comparison. On facts, thus, the Income Tax Appellate Tribunal held that the supplier had reasons for charging different rates. The Income Tax Appellate Tribunal further pointed out that the rate at which, the assessee purchased electricity from M/s OPG Energy Pvt. Ltd., was lower than the tariff fixed by the Tamil Nadu Electricity Board. – Decided against the Revenue.
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