Electricity charges payable to govt are not covered u/s. 43B

HIGH COURT OF ANDHRA PRADESH Commissioner of Income-tax Versus Andhra Ferro Alloys (P.) Ltd. Referred Case No. 99 of 1996 DECEMBER  30, 2011 JUDGMENT B.N. Rao Nalla, J. The respondent, M/s. Andhra Ferro Alloys (the assessee), is a private limited company engaged in the business of manufacture and sale of HC ferro chrome. During the year 1991-92, the assessee mostly did conversion processing for M/s. TISCO. In fact, from out of the total income of Rs. 4,54,52,264 credited to the profit and loss account, a sum of Rs. 3,79,79,687 was in the nature of conversion charges received ...