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2017 (1) TMI 513 - HC - Income TaxDeduction u/s. 80-IA(4) allowable for generation of power for captive consumption - Held that:- The issues in the present appeal require to be answered in favour of the assessee and against the revenue. See Tamilnadu Petro Products Ltd. Versus Assistant Commissioner of Income-tax [2010 (11) TMI 645 - MADRAS HIGH COURT] and Commissioner of Income Tax Versus Cethar Limited [2014 (9) TMI 831 - MADRAS HIGH COURT ] Adjustment made on account of disallowance u/s 14A of the Act in computation of book profit u/s 115JB - Held that:- Taking into consideration the evidence on record and considering the decision of this court in the case of Commissioner of Income-tax-I vs. Gujarat State Fertilizers & Chemicals Ltd. [2013 (7) TMI 701 - GUJARAT HIGH COURT ] we are of the opinion that issue Nos. (iii) and (iv) required to be answered in favour of the assessee and against the revenue.
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