Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (1) TMI 926 - HC - Income TaxAddition made u/s. 43B on account of deferred electricity duty - ITAT deleted addition - Held that:- We are in complete agreement with the concurrent findings arrived at by the Tribunal and CIT(A) and do not see any reason for interference. It is true that the State Government has issued the notification with a view to alleviate the adverse effect caused to industrial units under Deferment Scheme due to operation of Section 43B of the Act. The very object of the scheme is to give a subsidy to such units failing which the very scheme shall be frustrated. Therefore, considering the decisions cited by the learned advocates for both the sides and considering the materials on record, we are of the view that the authorities below have rightly concluded that the disallowance cannot be sustained and the same is rightly deleted. - Decided in favour of assessee.
|