Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals News SMS Articles Highlights
        Home        
← Previous Next →
  • Contents
  • Cases Cited

 

User Login
Username  
Password  
Stay sign in     

Forget password        New User/ Regiser

 

2018 (2) TMI 440

Head Note:
Disallowance made u/s 80IA(4) - captive power plants of the assessee were not separate undertakings, profits from them being notional,and hence, not included in gross total income - Tribunal deleted the disallowance - Held that:- Order passed by the Commissioner (Appeals) that denial under section 80IA on the ground that captive power plants of the assessee were not separate undertakings, profits from them being notional,and hence, not included in gross total income, etc., was not tenable in view of the decision in the case of Ahmedabad Manufacturing and Calico Printing Co. Ltd. [1986 (3) TMI 46 - GUJARAT High Court] wherein the court in the context of availability of deduction under section 80I, held that deduction under section 80I was available irrespective of the fact whether products were sold in open market or used for consumption by other units.

The Tribunal in the impugned order has followed its earlier decision in the case of Banco Aluminium Ltd. in assessment year 2009-10 and has allowed the ground of appeal.

It may be germane to refer to the decision of this court in the case of A.C.I.T., Bharuch Circle, Bharuch v. Pragati Glass Works Pvt. Ltd. (2012 (1) TMI 309 - GUJARAT HIGH COURT) wherein the court was dealing with the issue as to whether the Tribunal was right in law in directing to compute deduction under section 80IA by taking the market value of the electricity generated by the assessee at the rate of ₹ 5.00 per unit as against the market value of the electricity ₹ 4.51 per unit actually paid by the eligible business and considered by the AO for computing deduction under section 80IA in conformity with the provisions of section 80IA(8) of the Act, since the eligible unit cannot recover more than the duty paid - Decided against revenue

 


← Previous Next →

 

 

 

Discussion Forum
what is new what is new
 

Let's just recapitulate:

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.