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2017 (7) TMI 743 - HC - Income TaxEligibility to exemption u/s 80IA - generation of electricity - Held that:- Income from generation of power, may that be in the nature of captive generation, make the assessee entitled for deduction under Section 80-IA of the Income Tax Act, 1961 in respect of notional income from generation of electricity which was captively consumed by the assessee itself in another unit of the same company. This appeals preferred by the Revenue are dismissed with conclusion that Tribunal rightly declared the assessee entitled to claim deduction as prescribed under Section 80-IA of the Income Tax Act, 1961 and even for the purpose of computing the books of account as per Section 115-JA of the Income Tax Act, 1961. The question is therefore answered in favour of assessee
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