DCIT, CIRCLE-10(1), DELHI vs. INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED, DELHI

ITA 2917/DEL/2024Status: DisposedITAT Delhi31 December 2025AY 2018-19Bench: SHRI ANUBHAV SHARMA (Judicial Member), SHRI AMITABH SHUKLA (Accountant Member)38 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee was eligible for deduction under Section 36(1)(viii) as the income was derived from long-term financing. It also ruled that depreciation on the building was allowable based on beneficial ownership and business use, even without registration. Expenses for promoting Hindi language were also considered business-related.

What were the facts?

The assessee, IREDA, a public sector enterprise, claimed deductions under Section 36(1)(viii) and depreciation on a building. The Assessing Officer disallowed the deduction and depreciation, classifying certain incomes as 'other sources' and disallowing depreciation on a building not yet registered in the assessee's name. The CIT(A) partly allowed the assessee's appeal.

What were the issues?

The primary issues were the eligibility of the assessee for deduction under Section 36(1)(viii) and the allowability of depreciation on a building not yet registered in the assessee's name.

Which sections of the Income-tax Act were involved?

Section 36(1)(viii),Section 32,Section 40(a)(ia),Section 194I,Section 194C

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Cases cited in this judgment(3)Show list

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P a g e | 1 Indian Renewable Energy Development Agency Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, DELHI

BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER

ITA Nos. 2566 to 2573/Del/2024 (Assessment Years: 2010-11 to 2013-14 & 2015-16 to 2018-19) New Delhi – 110095 KrantiBhawan, BhikajiCama Place, New Delhi - 110066 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAACH384C Appellant .. Respondent

ITA Nos. 2910 to 2917/Del/2024 (Assessment Years: 2010-11 to 2013-14 & 2015-16 to 2018-19)

DCIT, Circle 10(1) Vs. M/s Indian Renewable Room No. 389A, 3rd Floor, Energy Development C.R. Building, IP Estate Agency Limited New Delhi – 110001 Core 4A, First Floor, East Court, Lodi Road, H.O. Kasturba Nagar, South East Delhi, 110003 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAACH384C Appellant .. Respondent

P a g e | 2 Indian Renewable Energy Development Agency Ltd.

Appellant by : Sh. Rohit Jain, Adv. Ms. Deepashree Rao, Adv. Sh. Shivam Gupta, CA Respondent by : Sh.

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