THE PR COMMISSIONER OF INCOME TAX IV NEW DELHI vs NTPC VIDYUT VYAPAR NIGAM LTD

Judgment text excerpt

IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 23.04.2025 + ITA 260/2024 PR. COMMISSIONER OF INCOME TAX-4, NEW DELHI ..... Appellant Versus NTPC VIDYUT VYAPAR NIGAM LTD. ..... Respondent Advocates who appeared in this case: For the Appellant : Mr Shlok Chandra, senior standing counsel with Ms Naincy Jain and Ms Madhavi Shukla, Advocate For the Respondent : Mr Ved Jain and Mr Nischay Kantoor, Advocates. CORAM HON’BLE MR. JUSTICE VIBHU BAKHRU HON’BLE MR. JUSTICE TEJAS KARIA JUDGMENT VIBHU BAKHRU, J. 1. The appellant [Revenue] has filed the present appeal impugning an order dated 31.07.2023 [impugned order] passed by the learned Income Tax Appellate Tribunal [ITAT] in ITA No.145/Del/2020 in respect of assessment year [AY] 2015-16. The said appeal was preferred by the respondent [Assessee] impugning an order dated 18.11.2019 passed by the Principal Commissioner of Income Tax [PCIT] under Section 263 of the Income Tax Act, 1961 [Act]. Signature Not Verified Digitally Signed By:TARUN RANA ITA No.260/2024 Page 1 of 12 Signing Date:24.04.2025 14:51:33 QUESTIONS OF LAW 2. In the aforesaid context, the Revenue has projected following questions of law for consideration of this court: “A. Whether on the facts, circumstances and law of the case, the Hon’ble ITAT was justified in holding that no addition of Rs.42,16,04,786/- is called for on account of sale of fly ash and cenosphere? B. Whether on the facts, circumstances and law of the case, the Hon’ble ITAT was right in accepting the prevalence of Gazette Notification issued by the Ministry of Environment and Forest over the provision of the Income tax Act 1961? C. Whether on the facts, circumstances and law of the case, the Hon’ble ITAT was correct in ignoring the decision of the Supreme Court in the case of Tuti