2022 (6) TMI 190

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..... Advocates. Respondent Through: Ms. Kavita Jha, Advocate. J U D G M E N T MANMOHAN, J (Oral): 1. Present Income Tax Appeal has been filed challenging the Order dated 27th August, 2020 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 2948/Del/2018 for the Assessment Year 2013-14. 2. Learned counsel for the Appellant submits that the ITAT has erred in allowing the capitalisation o .....

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..... the Apex Court in Commissioner of Income Tax, Bihar II, Patna vs. Bokaro Steel Ltd., Bokaro, (1999) 1 SCC 645, wherein it has been held ".....if the assessee receives any amounts which are inextricably linked with the process of setting up its plant and machinery, such receipts will go to reduce the cost of its assets. These are receipts of a capital nature and cannot be taxed as income. Subsequ .....

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..... ed by this Court in Principal Commissioner of Income Tax vs. Facor Power Ltd., (2016) 380 ITR 474 (Delhi)." 4. Keeping in view the aforesaid, this Court is of the opinion that no substantial question of law arises for consideration as the questions sought to be raised in the present appeal are squarely covered by the decisions of the Apex Court as well as this Court. Accordingly, the present appe .....

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