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2015 (6) TMI 1243 - AT - Income TaxDeduction claimed u/s 80IA - Allegation of the AO was that the assessee company has inflated the profit of “Power Division” and correspondingly claimed higher deduction u/s 80IA(4) - HELD THAT:- The issue is squarely covered by the decision of Bilaspur Bench of the Tribunal in the case of ACIT V/s Godavari Power & Ispat Ltd [2011 (11) TMI 107 - ITAT, BILASPUR] - Also in Godavari Power & Ispat Ltd. case [2013 (10) TMI 5 - CHHATTISGARH HIGH COURT] wherein on this very fact that the said assessee was a manufacturer of Iron steel and captive power plant has supplied electricity to its manufacturer unit which was at higher rate than the power supplied to Chhattisgarh State Electricity Board and held that CIT-A and the Tribunal had rightly computed the market value of the power after considering it with the rate of power available in the open market namely the price charged by the Board - Decided against revenue.
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