THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT INDUSTRIES POWER CO.LTD.,, BARODA

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

TDS of Rs.16.01 crore in the book profit u/s.115JB on the plea that its accounts were prepared in accordance with Part II and Part III to Schedule VI of the Companies' Act & accounting standards applicable there under and net profit shown in the profit and loss account could be altered only for prescribed items of adjustments specified in that section

GUJARAT URJA VIKAS NIGAM LTD,VADODARA vs. THE ACIT, CIRECLE-1(1)(1), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes and the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

TDS) from Chhatisgarh 33,23,630 Surguja Power Ltd. on deposits with them TOTAL 33,23,630 From the above, it can be seen that the Company was mandatorily required to place a Deposit with M/s. Chhattisgarh Surguja Power Ltd. towards Gujarat’s share of power in Chhattisgarh Ultra Mega Power Project. Hence, interest on the same has been earned