TMI Blog2022 (5) TMI 1232X X X X Extracts X X X X X X X X Extracts X X X X ..... Court as much as nearly Rs.100 crores has been released to the State Government. In other words, the amount has not only been parted with by the Assessee but also has been received by the Government. Consequently, the deduction under Section 43B of the Act as claimed by the Assessee cannot be denied to it. It requires to be mentioned here that against the order passed by this Court in [ 2010 (5) TMI 952 - ORISSA HIGH COURT] and the State Government filed an SLP before the Supreme Court of India [ 2015 (3) TMI 1414 - SC ORDER] an order was passed by the Supreme Court on 23rd March, 2015 recoding a settlement between the parties, pursuant to which full payments have in fact been made by NALCO to the State Government. In that view of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 32(1)(iia). - ITA No. 133 of 2012 - - - Dated:- 9-5-2022 - S. MURALIDHAR CHIEF JUSTICE AND R.K. PATTANAIK JUDGE Appellant Mr. A.U. Senapati, Advocate Respondents Mr. T.K. Satapathy, Senior Standing Counsel ORDER Dr. S. Muralidhar, CJ. 12. 1. This appeal by the Assessee-Appellant is directed against the order dated 29th June, 2012 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) in ITA No.91/CTK/2010 for the assessment year (AY) 2006-07. 2. While admitting this appeal on 9th February, 2022 the following substantial questions of law were framed for consideration: (i) Whether on the facts and in the circumstances of the case the learned ITAT was legally justif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Odisha on the electricity generated in its CPP under the Odisha Electricity Act, 1961. With effect from 10th October, 2001, the Government of Odisha issued a notification raising the electricity payable from 12 paisa per unit to 20 paisa per unit. Aggrieved by the additional levy of electricity duty, NALCO filed OJC No.2682 of 2002 in this Court. By an interim order dated 8th April, 2002 in Misc. Case No.2613 of 2002 in OJC No.2682 of 2002 this Court permitted NALCO to continue to pay electricity duty at 12 paisa per unit without prejudice to its rights and contentions. Further, NALCO was to deposit the differential of 8 paisa per unit in any Nationalized Bank in a fixed deposit. Accordingly, NALCO paid the differential 8 paisa per unit in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account and not as payment of electricity duty. In the assessment order date 29th December, 2008 the AO also disallowed the claim of additional depreciation of Rs.30,77,31,263/- under Section 32 (1)(iia) of the Act on the ground that the conditions stipulated therein had not been met. 8. The Commissioner of Income Tax (Appeals) [CIT (A)], by order dated 31st December 2009, dismissed NALCO s appeal by sustaining the addition under Section 43B of the Act to an extent of Rs.31,18,89,388/- and fully sustaining the disallowance of additional depreciation. 9. Thereafter the Assessee went before the ITAT in appeal which by the impugned order dated 29th June, 2012 was dismissed. 10. This Court has heard the submissions of Mr. A.U. Senapati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed by this Court as much as nearly Rs.100 crores has been released to the State Government. In other words, the amount has not only been parted with by the Assessee but also has been received by the Government. Consequently, the deduction under Section 43B of the Act as claimed by the Assessee cannot be denied to it. 14. It requires to be mentioned here that against the order passed by this Court in OJC No.2682 of 2002 the State Government filed an SLP before the Supreme Court of India. In the said SLP (C) No.6386 of 2011 an order was passed by the Supreme Court on 23rd March, 2015 recoding a settlement between the parties, pursuant to which full payments have in fact been made by NALCO to the State Government. In that view of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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