https://www.taxtmi.com/caselaws?id=769548 The Delhi HC dismissed the revenue's appeal in a revision under section 263 regarding addition of income from fly ash and cenosphere sales. The court held that the assessee earned no income as fly ash belonged to holding company NTPC, not the assessee. Sale proceeds were deposited in a fly ash utilization fund as mandated, with balance funds transferred to NTPC. The assessee had no freedom to utilize proceeds for personal benefit and acquired no assets. The HC upheld ITAT's decision, finding no substantial questions of law and no infirmity in the tribunal's ruling. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769548 The Delhi HC dismissed the revenue's appeal in a revision under section 263 regarding addition of income from fly ash and cenosphere sales. The court held that the assessee earned no income as fly ash belonged to holding company NTPC, not the assessee. Sale proceeds were deposited in a fly ash utilization fund as mandated, with balance funds transferred to NTPC. The assessee had no freedom to utilize proceeds for personal benefit and acquired no assets. The HC upheld ITAT's decision, finding no substantial questions of law and no infirmity in the tribunal's ruling. Case-Laws Income Tax Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769548