The Pr. Commissioner Of Income Tax -3 v. Delhi Transco Ltd

$~40 *IN THE HIGH COURT OF DELHI AT NEW DELHI +ITA 1404/2018 THE PR. COMMISSIONER OF INCOME TAX -3..... Appellant versus DELHI TRANSCO LTD. ..... Respondent Through: CORAM: HON'BLE MR. JUSTICE SANJIV KHANNAHON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANIO R D E R%07.12.2018 CM APPL. No 51376/2018 (Delay of 35 days in filing) and CM APPL.-No. 51377/2018 (Delay of 315 days in refiling) and ITA No. 1404/2018 Before issuing notice in the applications for condonation of delay infiling and delay in re-filing, we deem it appropriate to hear counsel for theRevenue on merits. Learned standing counsel for the Revenue accepts that additions madewere Revenue neutral for Rs. 16.82 crores was offered and taxed in theassessment year 2006-07. The respondent-assessee had returned loss income for the assessmentyear in question i.e. 2005-06. Even the assessment order in spite of additionwas framed at a loss. On merits, i.e., whether income accrued, the Tribunal had referred to the fact that NTPC has preferred an appeal before the High Court of Delhiagainst the decision of Central Electricity Regulatory Council. In thesecircumstances the right to receive had not accrued. Certainly, payment wasnot received or paid. In the aforesaid circumstances, we are not issuing notice on the applications for condonation of delay in filing and re-filing. Consequently,the applications and the appeal would be treated as dismissed. SANJIV KHANNA, J. DECEMBER 07, 2018/uj ANUP JAIRAM BHAMBHANI, J.