https://www.taxtmi.com/caselaws?id=461761 ITAT Delhi held that amounts collected from fly ash sales by thermal power stations and transferred to Fly Ash Utilization Fund need not be treated as taxable income. The tribunal ruled that per government notification, such funds must be maintained in separate accounts for infrastructure development and fly ash utilization promotion until 100% utilization is achieved. Since the assessee properly transferred funds to NTPC Ltd. in compliance with regulations, no addition to income was warranted. The PCIT's revision order u/s 263 was set aside and assessee's appeal was allowed. en-us Mon, 31 Jul 2023 00:00:00 +0530 Fri, 25 Apr 2025 18:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461761 ITAT Delhi held that amounts collected from fly ash sales by thermal power stations and transferred to Fly Ash Utilization Fund need not be treated as taxable income. The tribunal ruled that per government notification, such funds must be maintained in separate accounts for infrastructure development and fly ash utilization promotion until 100% utilization is achieved. Since the assessee properly transferred funds to NTPC Ltd. in compliance with regulations, no addition to income was warranted. The PCIT's revision order u/s 263 was set aside and assessee's appeal was allowed. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461761