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TMI Blog2018 (5) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... ydroelectric Power Corporation Ltd. vs. Commissioner of Income Tax(2010 (1) TMI 281 - SUPREME COURT) as held AAD was an income received in advance. It was a timing difference. Therefore, clause (b) of Explanation 1 to section 115JB (2) of the act was not applicable to AAD. Provision for leave encashment - whether is an ascertained liability and hence not to be included to book profit? - Held t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue pursuant to an order of remand. Allowance of deduction u/s 80IA - treating the interest income earned by the assessee from HPSEB as income from generation of power and hence eligible income - Held that:- The matter is squarely covered by the judgment rendered in Commissioner of Income tax vs. Jai Prakash Hydro Power Ventures Ltd. [2017 (5) TMI 1560 - ALLAHABAD HIGH COURT] - ITA No. 64 of 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciation (AAD) and thus was not required to be added back to the book profit under clause (i) of Explanation (1) to section 115 JB of the Income Tax Act, 1961? (iii) Whether the Hon ble ITAT is right in law in holding that the provision for leave encashment is an ascertained liability and hence not to be included to book profit? (iv) Whether the Hon ble ITAT is right in law in treating excess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f law No.(iii) is concerned, we are of the considered view, which fact is not disputed, that the matter is squarely covered by the judgment rendered in Commissioner, Income tax vs. H.P. Tourism Development Corporation Ltd., passed by this Court in ITA Nos.28 29 of 2012, decided on 16th May, 2013. 4. Insofar as substantial question of law No.(iv) is concerned, the same does not arise for consi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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