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Pr. Commissioner of Income Tax-07 Versus Power Grid Corporation of India Ltd.

2017 (9) TMI 745 - DELHI HIGH COURT

Penalty under Section 271(1)(c) - whether advance against depreciation (AAD) can be taxed under Section 28(1)? - Held that:- Assessee did not press its appeal before the ITAT. The issue was in fact decided in favour of a similarly placed party by the .....

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TAT noticed adequate disclosure had been made by the Assessee in Note Nos. 14(D) and 17 of the audited accounts of the Assessee. Therefore, there was no failure on the part of the Assessee to make a complete disclosure. In the facts and circumstances .....

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jay Kumar, Mr. Rahul Chaudhary, Standing Counsels For the Respondent : Mr. Ved Jain, Ms. Ranu Jain, Mr.Pranjal Srivastava, Advocates ORDER C.M. APPL. 31668/2017 (Exemption) in ITA No. 725/2017 1. Allowed, subject to all just exceptions. C.M. APPL. 27 .....

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y. ITA No. 595/2017 & ITA No. 725/2017 3. The Revenue is in appeal against a common order dated 9th January 2017 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 191/Del/2013 for Assessment Year ( AY ) 2005-06 and ITA No. 189/Del/2 .....

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n account of disallowance of advance against depreciation ( AAD ) for AY 2006-07. The second issue was regarding the recovery of transmission charges for AY 2005-06. 5. The ITAT, in the impugned order, noted that, on the issue of whether AAD can be t .....

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