https://www.taxtmi.com/caselaws?id=432199 The ITAT Kolkata allowed the assessee's appeals for AYs 2014-15 and 2015-16, reversing the CIT(A)'s decision. The tribunal condoned a 4-day delay in filing the appeals, finding the reasons reasonable. It applied the principle of mutuality to interest earned on deposits with CESC Ltd., ruling the interest could be set off against electricity consumption expenses, thus deleting the alleged taxable additions. en-us Mon, 19 Dec 2022 00:00:00 +0530 Fri, 20 Dec 2024 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432199 The ITAT Kolkata allowed the assessee's appeals for AYs 2014-15 and 2015-16, reversing the CIT(A)'s decision. The tribunal condoned a 4-day delay in filing the appeals, finding the reasons reasonable. It applied the principle of mutuality to interest earned on deposits with CESC Ltd., ruling the interest could be set off against electricity consumption expenses, thus deleting the alleged taxable additions. Case-Laws Income Tax Mon, 19 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432199