TMI Blog2013 (7) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... and circumstances of the case and in law, the ITAT is right in holding that the expenditure incurred by assessee on replacement of electricity meters is not a capital expenditure? (b) Whether on the facts and circumstances of the case and in law, the ITAT is right in holding that the Respondent is entitled to set off the deduction u/s. 80IA of the Act against the gross total income computed and not against the net business income only? (c) Whether on the facts and circumstances of the case and in law, the ITAT is right in upholding that no allocation of expenditure and disallowance of the same u/s. 14A of the Act is required to be made in the case of the Respondent? (d) Whether on the facts and circumstances of the case and in law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he has received no response from the department. (ii) In any view of the matter, the expenditure incurred on the replacement of the electricity meters was held to be capital expenditure by the Assessing Officer. This was on the ground that this electricity meters were installed at the premises of the customers after taking deposit from the consumers and it led to an enduring benefit to it. In appeal, the CITA(A) has allowed the appeal of the respondent-assessee holding that expenses incurred on replacement of electricity meters is of revenue nature while following the orders of his predecessors for the earlier Assessment Year. On further appeal by the revenue, the Tribunal held that these electricity meters have to be replaced periodica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the above view of the matter and for the reasons mentioned in our order dated 26 June 2013 the Income Tax Appeal No.1688 of 2009, we see no reasons to entertain Questions (b) to (e) as proposed by the revenue. 5 The appeal is admitted on Questions (f) and (g), which read as under: (i) Whether on the facts and circumstances of the case and in law, the ITAT is right in accepting the claims of the assessee that the provisions of Section 115JB are not applicable to the assessee, since the accounts prepared by the assessee are in accordance with the provisions of Electricity supply Act and not in accordance with the provisions of Part II and III of Schedule VI to the Companies Act? (ii) Whether on the facts and circumstances of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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