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Commissioner of Income Tax-LTU Versus Power Finance Corporation Ltd.

2015 (10) TMI 1750 - DELHI HIGH COURT

Revision u/s 263 - whether AO allowing deduction under Sections 36(1) (viia) (c) and 36 (1) (viii) in favour of the Assessee was erroneous as well as prejudicial to the interest of the Revenue? - Held that:- The Court is satisfied that in terms of th .....

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a possible one and there was no occasion for the CIT to have exercised jurisdiction under Section 263 of the Act. The impugned order of the ITAT therefore does not suffer from any legal infirmity. - Decided in favour of assessee. - ITA No. 395/2015 .....

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Mayank Nagi, Adv ORDER 1. This appeal by the Revenue is directed against the order dated 28th November 2014 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 2598/Del/2012 for the Assessment Year ('AY') 2007-08. 2. The q .....

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9 passed by the Assessing Officer ('AO') allowing deduction under Sections 36(1) (viia) (c) and 36 (1) (viii) of the Act in favour of the Assessee was erroneous as well as prejudicial to the interest of the Revenue. 4. The ITAT in the impugne .....

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s of the ITAT Delhi in Rural Electrification Corpn. v. Additional Commissioner of Income Tax (2009) 34 SOT 159 Delhi and of the Chennai Bench of the ITAT in Infrastructure Development Finance Co. Ltd. v. A CIT (order dated 29th March 2007 in ITA No. .....

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