https://www.taxtmi.com/caselaws?id=255727 The High Court of Gujarat upheld the decision of the Income Tax Appellate Tribunal and CIT (Appeals) in a tax appeal case concerning the disallowance of deferred electricity duty under Section 43B of the Income Tax Act, 1961. The Court ruled in favor of the assessee, stating that the disallowance was not justified as the Gujarat Government's scheme aimed to provide a subsidy to industrial units affected by Section 43B. Consequently, the Court confirmed the deletion of the addition of 12,26,746 under Section 43B, dismissing the revenue's appeal. en-us Wed, 24 Dec 2014 00:00:00 +0530 Sat, 24 Jan 2015 10:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255727 The High Court of Gujarat upheld the decision of the Income Tax Appellate Tribunal and CIT (Appeals) in a tax appeal case concerning the disallowance of deferred electricity duty under Section 43B of the Income Tax Act, 1961. The Court ruled in favor of the assessee, stating that the disallowance was not justified as the Gujarat Government's scheme aimed to provide a subsidy to industrial units affected by Section 43B. Consequently, the Court confirmed the deletion of the addition of 12,26,746 under Section 43B, dismissing the revenue's appeal. Case-Laws Income Tax Wed, 24 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255727