Calcutta High Court
Commissioner Of Income Tax vs The West Bengal Power Development ... on 31 October, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
1
ITA No. 738 of 2008
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction(Income Tax)
ORIGINAL SIDE
COMMISSIONER OF INCOME TAX, KOLKATA-II Plaintiff/Petitioner/Applicant
Versus
THE WEST BENGAL POWER DEVELOPMENT CORPOR Defendant/Respondent
ATION LTD BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 31st October, 2008.
The Court : After hearing the learned Advocates for the parties, the appeal is admitted and the following substantial question of law is referred for adjudication :
" (a) Whether in the facts and circumstances of the case the Tribunalw as justified in law in deleting the addition of Rs.2,49,64,012/- and Rs.5,56,49,968/- on account of deferred revenue expenditure to arrive at book profit under section 115JB and unascertained liability for the assessment years 2003-04 respectively?
(b) Whether on the facts and circumstances of the case the Tribunal was justified in law to delete the addition of Rs.12,76,540/- on account of claiming interest relating to financial year 2002-03 as the assessee was following mercantile system of accounting and Rs.31,04,30,582/- on account of Tariff Adjustment account to book profit under section 115JB being the nature of liability as unascertained liability for assessment years 2004, 2005 respectively?"
(c) Whether on the facts and circumstances of the case the Tribunal was justified in law to allow the cross objection of the assessee by allowing Rs.2.49,64,012/- as business expenditure for rehabilitation of persons who 2 have been displaced on the establishment of the power generating plant done when the same squarely falls within the ambit of the provisions contained in section 37(1) of the said Act?"
Let paper book be prepared by the appellant and be served upon the respondent within eight weeks from date.
Let the appeal appear ten weeks hence. Urgent certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(PINAKI CHANDRA GHOSE, J.) (SANKAR PRASAD MITRA, J.) km