Principal Commissioner Of Income Tax 14 vs Maharashtra State Electricity ... on 25 April, 2023

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Supreme Court - Daily Orders

Principal Commissioner Of Income Tax 14 vs Maharashtra State Electricity ... on 25 April, 2023

Bench: Aravind Kumar

                                                           1

     ITEM NO.10                                COURT NO.7                   SECTION IX

                                    S U P R E M E C O U R T O F         I N D I A
                                            RECORD OF PROCEEDINGS

                          SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 12359/2023

     (Arising out of impugned final judgment and order dated 19-04-2022
     in ITA No. 276/2018 passed by the High Court of Judicature at
     Bombay)

     PRINCIPAL COMMISSIONER OF INCOME TAX 14                                 Petitioner(s)

                                                          VERSUS

     MAHARASHTRA STATE ELECTRICITY DISTRIBUTION CO. LTD.Respondent(s)

     (FOR ADMISSION and I.R. and IA No.71457/2023-CONDONATION OF DELAY
     IN FILING and IA No.71463/2023-EXEMPTION FROM FILING C/C OF THE
     IMPUGNED JUDGMENT )

     Date : 25-04-2023 This petition was called on for hearing today.

     CORAM :
                              HON'BLE MR. JUSTICE SANJIV KHANNA
                              HON'BLE MR. JUSTICE ARAVIND KUMAR


     For Petitioner(s)                    Mr. Balbir Singh, A.S.G.
                                          Mr. Raj Bahadur Yadav, AOR
                                          Mr. Chinmayee Chandra, Adv.
                                          Mr. Karthik Sundar, Adv.
                                          Mr. Bhuvan Kapoor, Adv.
                                          Mr. Siddhant Kohli, Adv.
                                          Mr. Shyam Gopal, Adv.
     For Respondent(s)


                               UPON hearing the counsel, the Court made the following
                                                 O R D E R

We are not inclined to issue notice on the issue of disallowance under Section 40(a)(ia) of the Income Tax Act, 1961 (for short ‘the Act’) as the Assessing Officer had raised the issue Signature Not Verified of disallowance under 40(a)(ia) of the Act and on being satisfied Digitally signed by BABITA PANDEY Date: 2023.04.26 18:41:14 IST Reason: did not make any addition. Therefore, the order of the Commissioner of Income Tax directing remand to examine the issue once again 2 would not be in accordance with law.

With regard to the depreciation of Rs.41.19 crores, it is submitted that the said figure was verified from the Income Tax Return and the documents submitted by the assessee itself. Secondly, this amount was by way of general subsidy and has been included/added to the capital asset account. This does appear to be strange. However, we permit the learned Additional Solicitor General to obtain instructions in this regard and also place on record the order passed under Section 143(3) of the Act after the Commissioner of Income Tax had passed an order under Section 263 of the Act.

Let the needful be done within a period of four weeks. Re-list in the month of August 2023.

    (BABITA PANDEY)                                          (R.S. NARAYANAN)
    COURT MASTER (SH)                                       COURT MASTER (NSH)

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