JCIT(IN-SITU), CIRCLE-1, PATNA., PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the\nassessee are dismissed

disallowance of ₹72,67,00,000/-\nby the learned CIT (A) as made by the Id. AO on account of\ndelayed payment surcharge by the consumers.\n4.1. The learned AO during the assessment proceeding noted\nfrom the documents/evidences furnished by assessee that\nassessee had followed mercantile/ accrual system of\naccounting and with regard to delayed payment of surcharge

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, PATNA, PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am

disallowance of ₹72,67,00,000/- by the learned CIT (A) as made by the ld. AO on account of delayed payment surcharge by the consumers. 4.1. The learned AO during the assessment proceeding noted from the documents/evidences furnished by assessee that assessee had followed mercantile/ accrual system of accounting and with regard to delayed payment of surcharge (DPS) assessee