PR. COMMISSIONER OF INCOME TAX, SHILLONG vs. M/S NORTH EASTERN ELECTRIC POWER CORPORATION LIMITED

HIGH COURT OF MEGHALAYA AT SHILLONG MC (ITA) No.2/2024 Date of order: 29.07.2024 M/s North Eastern Electric Vs. Pr. Commissioner of Income Tax, Power Corporation Limited. Shillong. Coram: Hon’ble Mr. Justice S. Vaidyanathan, Chief Justice Hon’ble Mr. Justice W. Diengdoh, Judge Appearance: For the Applicant : Mr. Ved Jain, Adv with with Mr. N. Kantoor, Adv Mr. S. Dodeja, Adv Mr. S. Jindal, Adv For the Respondent : Mr. S. Pandey, Adv Learned counsel for the applicant drew the attention of this Court to the typographical errors appearing at paragraphs 5 and 9 of the order dated 08.07.2024. 2. The said errors in the order dated 08.07.2024 appears to have been through inadvertent typographical mistake. Therefore, the word “Department” appearing in paragraph 5 of the order dated 08.07.2024 shall be read as “Company” and the words “warrant interference” shall be read as “warrants no interference”. So also in paragraph 9 of the order dated 08.07.2024 the words “It was the case of the Company that Page 1 of 2 Serial No.02 Regular List 2024:MLHC:671-DB

there was no real income accrued to the Company and in fact, the income accrued was only hypothetical, as the transaction recorded under the advance licences or under the duty entitlement passbook do not represent the real income of the assessee and as such, the re- assessment order of the Authority concerned on the basis of Hybrid System of accounting has no legs to stand” stands deleted and be replaced by the words “It was the case of the Company that there was no real income accrued to the Company and in fact, the income accrued was only hypothetical, late payment surcharge do not represent the real income of the assessee and as such, the re-assessment order of the Authority concerned on the basis of Hybrid System of accounting has no legs to stand”. 3. Learned counsel for the respondent has no objection in making those corrections. 4. In view of the above, MC (ITA) No.2 of 2024 is disposed of. (W. Diengdoh) (S. Vaidyanathan) Judge Chief Justice Page 2 of 2 2024:MLHC:671-DB Powered by TCPDF (www.tcpdf.org) Digitally signed by LAMPHRANG KHARCHANDY Date: 2024.07.30 13:24:33 IST Signature Not Verified