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2013 (1) TMI 20 - AT - Income TaxDeduction u/s 80IB – Computation of income - Assessee engaged in the business of manufacturing and sale of abrasive and refractory products - Expenditure related to electricity for working out deduction u/s 80IA – Assessee has filed the working relating to allocation of electricity charges attributable to Dry Vibration Cement (DVC) Plant Rs. 7,94,075/- as against the allocation of power consumption expenses worked out by the A.O. Rs. 8,15,360/ - Held that:- A.O. after considering the assessee’s submission, without pointing out any defect in the working given by the assessee to show that power cost computed by the assessee Rs. 3600/- in round figure is less than the actual cost of electricity pertaining to DVC plant. Disallowance made by the A.O. in this regard and partly sustained by the CIT(A) is not sustainable in law and accordingly we direct the A.O. to consider cost of power Rs. 3600/- only pertaining to DVC plant and work out the deduction u/s 80IA. In favour of assessee
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