Expenditure incurred for electricity load extension charges are revenue in nature

Tewari Warehousing Co. Pvt. Ltd Vs DCIT (ITAT Kolkata) ITAT Kolkata held that the electricity load extension charges are allowable as revenue expenditure. Accordingly, addition towards the same is unjustifiable and liable to be set aside. Facts- The assessee is a private limited company engaged in the business of loading, unloading, blending and packing of raw tea. E-return for AY 2014-15 filed declaring total income of Rs. 1,99,63,630/-. Case selected for scrutiny followed by serving of notices u/s 143(2) & 142(1) of the Act. Assessment u/s 143(3) of the Act completed on 31.12.2016 making...