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Judgment
The appeal was admitted on the following substantial questions of law:-
(I) Whether on the facts and in the circumstances of the case, the Hon''ble ITAT was justified in law in allowing the claim of Rs. 12,76,419/- in respect of payments made to various institutions, schools, clubs etc. which were disallowed by the assessing officer under Section 40A(9) of the Income Tax Act?
(II) Whether on the facts and in the circumstances of the case, the Hon''ble ITAT was justified in law in allowing the claim of reduction of Rs. 67,15,43,768/- being the profit from generation of power from the book profit under Section 115JA of
the Income Tax Act when the assessee was not engaged in the business of generation of power and the power was generated for its own manufacturing units?
It is not in dispute that the substantial questions of law are covered against the revenue as per decision given by this Court on 13.07.2017 in ITR 4/1996. The decision not in dispute that the substantial question of law at Sr. Nos. 2 and 3 are covered by the decision of this Court delivered in Income Tax Appeal No. 104/2006 decided on 17.07.2017 against the Revenue. We therefore, answer all the the substantial question of law, accordingly.
The Income Tax Appeal is dismissed.