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2017 (9) TMI 832 - AT - Income TaxClaim of assessee towards deduction u/s 80IA(4) - ‘eligible profits’ for claim of deduction u/s 80IA(4) r.w.s.80IA(8) in respect of assessee’s Captive Wind Power Plant - Held that:- Deemed sales price of the power supplied by independent power plants excluding the cost towards surcharge and duty etc. levied by the supplier should be adopted for the purposes of determination of “market price” for computation of eligible profit under s.80IA(4) r.w.s.80IA(8) of the Act. Thus we are in agreement with the contentions on behalf of the assessee that for the purposes of determination of ‘market value’ of goods/services of eligible business, it is the sale of price at which the Electricity Board supplies electricity to its consumer which will be taken as market price, subject however, to the exclusion of surcharge, duty etc. thereon. The issue is thus accordingly restored back to the file of the AO for determination of eligible profit for the purposes of deduction under s.80IA(4) - Appeal of the assessee is allowed for statistical purposes.
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