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2022 (10) TMI 363 - SCH - Income TaxMinimum Alternate Tax (MAT) - Applicability of section 115JB on electricity company - As per HC fiction fixed under section 115JB cannot be pressed into service against the appellant while making the assessment of the tax payable under the Income-tax Act - Applicability of section 43B in respect of the electricity duty collected - As held Section 43B cannot be invoked in making the assessment of the liability of the appellant under the Income-tax Act with regard to the amounts collected by the appellant pursuant to the obligation cast on the appellant under section 5 of the Kerala Electricity Duty Act, 1963 - HELD THAT:- We have gone through the circumstances on record and considered the rival submissions. In our view, no interference is called for. We, therefore, dismiss this appeal. Addition u/s 43B - Electricity duty payable under section 3(1) of the Electricity Duty Act, 1963 and surcharge payable to Government - Applicability of section 115JB on electricity company - Addition on electricity duty and short provision of interest on Government loan made u/s 43B - HELD THAT:- The view taken by the High Court [2010 (11) TMI 127 - KERALA HIGH COURT] and connected matters was relied upon by the High Court in the instant matters and the issue was answered against the Revenue. Having confirmed the view taken by the High Court, the logical consequence is that the instant matters deserve dismissal. Applicability of Section 115JB to the assessee Electricity Company - Since the issue involved in the instant matters stand covered by the dismissal of Civil Appeal in this case the instant matters are also dismissed.
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