TMI Blog2021 (7) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... appreciating that the amendment is applicable only with effect from 1.4.2013 relevant Assessment Year 2013-14? - HELD THAT:- As decided in M/s. Karnataka Power Corporation Ltd [ 2020 (5) TMI 657 - KARNATAKA HIGH COURT ] Companies Act, 1956 has excluded insurance, banking companies or the companies engaged in the generation or supply of electricity from the purview of Section 211(1) of the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tructure, electrical and mechanical appliances holding that crystallization of expenses had happened during the relevant Assessment Year without appreciating that the expenditure was relating to other assessment years and the assessee has not substantiated that the liability was crystallized during the year? 2. Whether on the facts and in the circumstances of the case, the Tribunal was correct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .1. It has also been informed to this Court that substantial question of law Nos.2 and 3 have already been decided in favour of the asessee in ITA.No.143/2014 (The Commissioner of Income-Tax another vs. M/s. Karnataka Power Corporation Ltd.,), decided on 17.3.2020. 4. The order passed by the Division Bench of this Court in paragraphs 2 to 4 reads as under; 2. The following substantial que ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in the circumstances of the case the Tribunal was correct in accepting the additional ground raised regarding applicability of section115JB without appreciating that the assessee has neither raised the issue before he Assessing officer or before the Appellate Commissioner and the assessee itself in it s return of income has admitted the applicability of section 115JB of the Act? 3. When the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
