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No revision u/s 263 on account of income received from Fly Ash and Cenosphere
Case Law Details
- Case Name
- NTPC Vidyut Vyapar Nigam Ltd. Vs PCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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NTPC Vidyut Vyapar Nigam Ltd. Vs PCIT (ITAT Delhi)
Conclusion: While granting relief to NTPC, the proceeding under Section 263 could not be initiated on account of income received from the fly ash and cenosphere as in view of the notification of the Government the fly ash fund transferred to NTPC Ltd.
Held: PCIT initiated proceedings u/s 263 and considered the assessment order passed u/s 143(3) and held that the same was erroneous so far as it was prejudicial to the interest of the Revenue owing to the failure of AO to at Rs.88,26,37,126/- on account of the income from sale ...
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