TaxTMI 
TaxTMI 
TaxTMI 
2025 (6) TMI 715
X X X X Extracts X X X X
X X X X Extracts X X X X
....r of Income Tax (Appeals), NFAC erred in law and on facts has confirmed the additions of 17,91,17,390/- on account of interest accrued but not due on Loans from PFC on the ground that the same have remained unpaid at the end of the year totally ignoring the fact that the same were not payable as on the close of the year. 2. The learned Commissioner of Income Tax (Appeals), NFAC erred in law and on facts has confirmed the additions of 195,68,27,264/- being the Government Grants, Subsidies & Consumers Contribution transferred to Profit & Loss Account during the year merely following the orders of earlier years. 3. The appellant craves leave to add to, alter, delete or modify any of the above grounds of appeal either before or at the time ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tself formed base of the total income computed in the impugned assessment order. 4.0 The appellant craves leave to add to alter delete or modify any of the above grounds of appeal either before or at the time of hearing of this appeal." 3. Firstly we are taking up ITA 109/Ahd/2025. The assessee is a company wholly owned subsidiary of Gujarat Urja Vikas Nigam and engaged in the business of distribution of electricity. For the relevant assessment year 2017-18, the assessee filed return of income on 31-10-2017 declaring total income at Rs. 1,16,38,85,400/- u/s. 115JB of the Income Tax Act, 1961. The return was selected for scrutiny and notice u/s. 142(1) and 143(2) of the Act were issued. The Assessing Officer made addition on/or disallowan....
X X X X Extracts X X X X
X X X X Extracts X X X X
....arties and perused all the relevant materials available on record. It is pertinent to note that the assessee was served assessment order on 07- 08-2023 and merely issuing the order on 30-03-2023 will not start the due date of filing of appeal, but the calculation of the due date for filing of appeal which was done by the assessee seems to be plausible. Hence, the CIT(A) was not right in dismissing the appeal on the ground of delay. The CIT(A) has not at all considered the appeal on merit and therefore it will be proper to remand back the matter to the file of CIT(A) for proper verification and adjudication of the issues on merit and as per Income Tax Act. The assessee be given opportunity of hearing by following principles of natural justic....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nds thereby stating that this issue was not arisen out of the impugned order. The assessee has categorically taken this ground because the interest income amounting to Rs. 2,62,08,000/- treating the same as income from other sources and the facts of the present assessment order were totally different from that of earlier assessment years where similar additions were made and this difference was not taken into account by the Assessing Officer as well as the CIT(A). 13. The ld. D.R. relied upon the assessment order and the order of the CIT(A). 14. We have heard both the parties and perused the all the relevant materials available on record. It is pertinent to note that the assessee has given a bifurcation of the return of income but whether....