TaxTMI 
TaxTMI 
2025 (6) TMI 983
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....l/2019 and CO No.39/Kol/2019 for the assessment year 2015-16. 2. The revenue has raised the following substantial questions of law for consideration : "a) Whether on the facts and in the circumstances of the case the Ld. Income Tax Appellate Tribunal was justified in law by deleting the adjustment made by the AO/TPO amounting to Rs. 124,76,75,528/- for transaction in respect of transfer of power/electricity? b) Whether on the facts and in the circumstances of the case the Ld. Income Tax Appellate Tribunal was justified in law by failing to appreciate the analysis undertaken by the TPO while concluding the said transaction was not at the arm's length? c) Whether on the facts and in the circumstances of the case the Ld. Income Tax Ap....
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....es to the distribution company? g) Whether on the facts and in the circumstances of the case the Ld. Income Tax Appellate Tribunal was justified in law by not appreciating the rationale of selection of the least complex entity as the tested party as adopted by the TPO? h) Whether on the facts and in the circumstances of the case the Ld. Income Tax Appellate Tribunal was justified in law by not appreciating the fact that a manufacturer cannot be compensated based on rates meant for distributors? i) Whether on the facts and in the circumstances of the case the Ld. Income Tax Appellate Tribunal was justified in law by not appreciating the fact that the price at which the end user, in this case the non-eligible unit, was purchasing pow....
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....on the very same issues in respect of the assessment years 2013-14 and 2014-15 being ITAT/226/2023 and ITAT/227/2023 filed by the Department were dismissed. To be noted that though ITA/124/2019 for the assessment year 2010-11 was admitted, it was only in respect of the sale of electricity by the captive power plant to Indian Energy Exchange and Rajasthan Power Procurement Centre and not with regard to the issues which are mentioned in the substantial question nos. (a) to (j). Thus, following the above decisions, the substantial questions of law (a) to (j) are decided against the appellant/Department. 5. With regard to the substantial question of law (k), which deals with additional depreciation under Section 32 (1) (iia), the said issue is....
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....t years 2013-14 and 2014-15 in ITAT/226/2023 and ITAT/227/2023 on the very same issues were not admitted. So far as the substantial question of law (n) is concerned, the issue is whether capital receipt to be excluded for computation of book profit under Section 115JB. 7. This issue is covered in favour of the assessee in the light of the decision of this Court in PCIT vs. Ankit Metal & Power Ltd. [2019] 416 ITR 591 (Cal). That apart, for the assessment year 2013-14 the very same issue was decided by the learned Tribunal. 8. The said issue was put to challenge by the Department before this Court in ITAT/226/2023 which appeal was not admitted. Similarly, for the assessment year 2014-15 the Department preferred the appeal before this Court ....