ACIT, NEW DELHI vs. M/S. SASAN POWER LTD., NAVI MUMBAI

PDF · subscribers
ITA 4254/DEL/2015Status: DisposedITAT Delhi24 January 2019AY 2012-134 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, stating that the issue was settled in favor of the assessee by the Delhi High Court's decision in the assessee's own case. The AO's reliance on the SLP was not sufficient to override the High Court's judgment.

What were the facts?

The assessee treated interest income of Rs. 4,59,51,001/- as a capital receipt. The AO made an addition, citing an SLP filed by the department, despite the Delhi High Court ruling in favor of the assessee on a similar issue. The CIT(A) deleted the addition.

What were the issues?

Whether interest income earned on commitment advances should be treated as revenue or capital receipt, especially when the High Court has already ruled on the matter in the assessee's favor.

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, DELHI BENCHES: Bench ‘D’, NEW DELHI

Before: SMT. BEENA A PILLAI & SHRI PRASHANT MAHARISHI

For Appellant: Smt. Naina Soin Kapila, Sr. DR
Hearing: 22/01/2019Pronounced: 24/01/2019

ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present appeal has been filed by Revenue against order dated 29/04/15 passed by Ld. CIT (A)-8 on following grounds of appeal:

Recent GST High Court judgments

Search GST case law →