TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: (i) Whether electricity duty and surcharge payable under the Electricity Duty Act, 1963 were deductible only on actual payment under section 43B of the Income-tax Act, 1961. (ii) Whether section 115JB of the Income-tax Act, 1961 applied to tax book profit in the assessee's case.
Issue (i): Whether electricity duty and surcharge payable under the Electricity Duty Act, 1963 were deductible only on actual payment under section 43B of the Income-tax Act, 1961.
Analysis: The liability was treated as governed by section 43B, but the issue had already been settled by an earlier binding decision holding the claim allowable in favour of the assessee. The Tribunal's view was consistent with that precedent.
Conclusion: The issue was decided against the Revenue and in favour of the assessee.
Issue (ii): Whether section 115JB of the Income-tax Act, 1961 applied to tax book profit in the assessee's case.
Analysis: The question of book profit taxation under section 115JB was also covered by an earlier decision in the assessee's own case. The Tribunal's conclusion followed that settled position.
Conclusion: The issue was decided against the Revenue and in favour of the assessee.
Final Conclusion: Both issues having been answered against the Revenue, no interference with the appellate and Tribunal orders was warranted.
Ratio Decidendi: Where the material issues are already governed by binding precedent, the appellate court will follow that precedent and uphold the relief granted to the assessee.
TaxTMI 
TaxTMI 
