DCIT, CIRCLE-10(1), DELHI vs. INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED, DELHI
ITA 2917/DEL/2024[2018-19]Status: DisposedITAT Delhi31 Dec 2025AY 2018-19
Bench: Shri Anubhav Sharma & Shri Amitabh Shukla
For Appellant: Sh. Rohit Jain, AdvFor Respondent: Sh. Mukesh Kumar Jha, CIT, DR
Section 143(3)
declaring total income of
Rs.129,63,24,480/-. In the return of income, the assessee claimed deduction
of Rs.29,53,53,159/- under section 36(1)(viii) of the Act, being 20% of the
profits from long-term financing business. Ld. Counsel explained the said
deduction was computed as under ... same being shown as business income by the assessee;
(b) AO held that the assessee is not at all eligible for deduction under
section 36(1)(viii) of the Act and consequently, denied the entire claim
of deduction under that section.
6. On further appeal, the CIT(A) partly allowed