2022 (6) TMI 190

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....dvocates. Respondent Through: Ms. Kavita Jha, Advocate. J U D G M E N T MANMOHAN, J (Oral): 1. Present Income Tax Appeal has been filed challenging the Order dated 27th August, 2020 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 2948/Del/2018 for the Assessment Year 2013-14. 2. Learned counsel for the Appellant submits that the ITAT has erred in allowing the capitalisation of....

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....he Apex Court in Commissioner of Income Tax, Bihar II, Patna vs. Bokaro Steel Ltd., Bokaro, (1999) 1 SCC 645, wherein it has been held ".....if the assessee receives any amounts which are inextricably linked with the process of setting up its plant and machinery, such receipts will go to reduce the cost of its assets. These are receipts of a capital nature and cannot be taxed as income. Subseque....