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2014 (6) TMI 574 - HC - Income TaxExpenses on replacement of meters – Head Office Expenses - Held that:- Company engaged in the business of providing energy/ electricity and finding that the expenses have been incurred for development and to take care of environmental issues - The Tribunal rightly noted the factual position and particularly that the very claim arose for the AY 1999-2000 to 2005-2006 - The particulars in that regard are referred in the order of the ITAT – thus, no substantial question of law arises for consideration – Decided against Revenue. Deduction u/s 80IA of the Act - Purchase price from Tata Power Company – Held that:- The Tribunal was of the view that till the AY 2005-2006, the Revenue considered the rate at which the power was purchased by the Assessee from Tata Power Company as market value - there is nothing brought on record as to how the rate determined by the MERC is the true market value - the reasons assigned by the ITAT and finding that the attempt is to seek re-appreciation and reappraisal of the factual data – thus, no substantial question of law arises for consideration – Decided against Revenue. Disallowance u/s 14A r.w Rule 8D of the Rules - Held that:- Following Godrej & Boyce Manufacturing Company Limited v/s DCIT [2010 (8) TMI 77 - BOMBAY HIGH COURT] - the disallowance u/s 14A of the Act, has to be made in accordance with the principles laid down in the decision - Rule 8D should not be applied retrospectively - Such findings of remand and based on the judgment of the Court obviously will not raise a substantial question of law – Decided against Revenue.
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