Section 43B not attracted in respect of electricity duty: ITAT Delhi

DCIT Vs Tata Power Delhi Distribution Ltd (ITAT Delhi) ITAT Delhi held that provisions of section 43B of the Income Tax Act is not attracted to the licensee/assessee in respect of electricity duty. Thus, question is answered in favour of the assessee and hence appeal of revenue dismissed. Facts- Vide the present appeal, the revenue is challenging the deletion of addition under section 43B of the Act on account of unpayable portion of Energy Tax. Vide the present appeal, assessee has disputed in the rate of depreciation claimed on UPS at a higher rate as against 15% granted by the learned AO. C...