2025 (10) TMI 42

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....Revenue : Sh. Om Prakash, Sr. DR ORDER PER YOGESH KUMAR, U.S. JM: The present appeal is filed by the Assessee against the order of Ld. Commissioner of Income Tax (Appeals/ National Faceless Appeal Centre ('Ld. CIT(A)/NFAC' for short), New Delhi dated 21/04/2025 for the Assessment Year 2018-19. 2. The solitary issue involved in the present appeal is regarding capitalization of interest ....

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....sue involved in the present appeal is squarely covered by the Judgment of the Hon'ble Supreme Court in the case of Commissioner of Income-tax Vs. Karnal Co-operative Sugar Mills Ltd. reported in 1999 (4) TMI 7- Hon'ble Supreme Court, thus sought for allowing the Appeal. 4. Per contra, the Ld. Department's Representative relying on the orders of the Lower Authorities sought for dismi....

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....osit of money in the present case is directly linked with the purchase of plant and machinery. Hence, any income earned on such deposit is incidental to the acquisition of assets for the setting up of the plant and machinery. In this view of the matter the ratio laid down by this court in Tuticorin Alkali Chemicals and Fertilizers Limited v. CIT, will not be attracted. The more appropriate decisio....