In the result, appeal filed by the assessee is allowed &
Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmanm/S. Southern Power Vs Dy. Commissioner Of Income Distribution Company Of Tax, Circle 2(1) Andhra Pradesh Ltd Tirupati Tirupati 517 503 Pan: Aahcs 4056 Q Dy. Commissioner Of Vs M/S. Southern Power Distribution Income Tax, Company Of Andhra Pradesh Ltd Circle 2(1) Tirupati 517 503 Tirupati Pan: Aahcs 4056 Q
Section 115J of the Act, then it should be that incomewhich is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of income-tax both maintained under the same Act. If the Legislature intended the Assessing Officer to reassess