DCIT, CIRCLE-25(1), NEW DELHI vs TATA POWER DELHI DISTRIBUTION LTD.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 13.01.2025 + ITA 196/2020 & CM APPL. 9652/2020 DCIT, CIRCLE-25(1), NEW DELHI .....Appellant Through: Mr. Gaurav Gupta, SSC, Mr. Shivendra Singh and Mr. Yojit Pareek, JSCs versus TATA POWER DELHI DISTRIBUTION LTD. .....Respondent Through: Mr. Shashi M Kapila, Mr. Pravesh Sharma and Mr. Sushil Kumar, Advocates CORAM HON’BLE THE ACTING CHIEF JUSTICE HON’BLE MS. JUSTICE SWARANA KANTA SHARMA JUDGMENT SWARANA KANTA SHARMA, J. 1. The Revenue has preferred the present appeal under Section 260A of the Income Tax Act, 1961 [hereafter „the Act‟] impugning an order dated 14.06.2019 [hereafter „the impugned order‟] passed by the learned Income Tax Appellate Tribunal [hereafter „the learned ITAT‟], in ITA No. 2784/Del/2013, in respect of the assessment year (AY) 2008-09. FACTUAL BACKGROUND 2. The respondent – M/s Tata Power Delhi Distribution Limited – [hereafter „the assessee‟] is a joint venture between Tata Power Signature Not Verified Digitally Signed ITA 196/2020 Page 1 of 8 By:AANCHAL TAGGAR Signing Date:16.01.2025 12:33:08 Company Limited and the Government of NCT of Delhi, wherein Tata Power Company Limited, along with Tata Sons Limited, holds 51% of the shares, while the remaining 49% of the shares are held by the Government of NCT of Delhi. The assessee is engaged in the power generation and distribution of electricity in North and North West Delhi. 3. For the AY 2008-09, the assessee filed its return of income declaring a total income of ₹5,45,53,688/- under the normal provisions, and ₹346,06,00,973/- as book profits under Section 115JB of the Act. The return was processed under Section 143(1) of the Act. The return was thereafter selected for scrutiny, and a notice under Section 143(2) of the Act was issue