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TMI Blog2024 (9) TMI 1106X X X X Extracts X X X X X X X X Extracts X X X X ..... "AO") u/s. 143(3) r.w.s 254 regarding the unpaid Electricity Duty under section 43B of the Income Tax Act, 1961 (hereinafter referred to as "the Act") for the Assessment Year (AY) 1996-97. Facts of the Case: 2. The assessee is a company engaged in the business of generation, transmission, and distribution of electricity in Gujarat. For the Financial Year (FY) relevant to the Assessment Year 1996-97, the assessee filed a Return of Income on 29-11-1996 declaring a total income of Rs. NIL. Assessment under section 143(3) of the Act was completed on 28-08-1998 with several additions and disallowances, enhancing the total income. At the time of the original assessment, the assessee explained that the provisions of section 43B of the IT Act we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned Commissioner of Income Tax (Appeals) erred in law and on facts has confirmed the action of the Assessing Officer in not allowing any relief whatsoever in respect of the unpaid Electricity Duty amounting to Rs.51,99,98,843/- on the ground that the same is inadmissible under section 43B of the I T Act in view of the Gujarat High Court judgment in case of CIT vs. Ahmedabad Electricity Co.Ltd. 262 ITR 97. The learned Commissioner of Income Tax (Appeals) out to have appreciated that Electricity Duty and Tax on Sale of Electricity Duty is covered by section 43B of the I T Act, hence deduction has to be allowed on payment basis. The Electricity Duty was already adjusted before the end of the year under consideration. 2.0 The appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct,1961 ('Act' for short). The narrow controversy which arises in this assessee has not produced the certificate of a Chartered Accountant, as defined in the Explanation to Section 288 of the Act. that, till today, such certificate has not been produced. In the context of Section 43B of the Act, apart from entitlement, the assessee was duty bound to produce the certificate showing the proof of payment which the assessee claims by way of adjustment on 21st August, 1990. In the above circumstances, we direct the assessee to produce certificate before the Assessing Officer within a period of four weeks. The Assessing Officer will take the certificate on record and decide the matter in accordance with law. Accordingly, the civil appeal fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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