COMMISSIONER OF INCOME TAX, FARIDABAD Vs. NHPC LTD

JUDGEMENT

(1.) The appeal is against the order of the Tribunal upholding the decision of the CIT (Appeals) which allowed the appellant's appeal against the order of the Assessing Officer. The matter pertains to the assessment year 2001-02. The Assessing Officer had added an amount of Rs.131.81 crores on account of advance against depreciation which the CIT(A) deleted.

(2.) According to the appellant, the following substantial questions of law arises:-

(3.) In our view, the matter is covered in favour of the respondent assessee by the judgment of the Supreme Court in the assessee's case National Hydroelectric Power Corp. Ltd. v. Commissioner Of Income-Tax, 2010 321 ITR 374. The facts in this appeal are identical to the facts in the case before the Supreme Court.