Electricity Consumption Charges Wholly for Business Purposes allowable: ITAT Delhi

Aamby Valley Limited Vs ACIT (ITAT Delhi) No Section 14A Disallowance Because Assessee Earned No Exempt Income; Sundry Balances Written Off Allowed Because They Qualified as Business Losses or Business Expenditure; Customer Advances Not Taxable Under Section 68 Because Identity and Genuineness Were Established: ITAT Delhi. The Delhi Income Tax Appellate Tribunal (ITAT) partly allowed the assessee’s appeal and dismissed the Revenue’s cross-appeal for Assessment Year 2014-15, dealing with multiple additions and disallowances arising from assessment proceedings under Section 143(3) ...