Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 1301 - HC - Income TaxComputation of deduction 80IA/80IB - Tribunal held that components of price for sale of electricity fixed on the basis of tax liability should not be taken as part of the transfer price of coal and sale price of electricity in computing the relief - Held that:- Issue to be decided in favour of the assessee, by judgement of M/S. NEYVELI LIGNITE CORPORATION LIMITED VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX COMPANY CIRCLE IV (4) CHENNAI [2013 (1) TMI 136 - MADRAS HIGH COURT] which says:- “Where under the agreement the tax component is part of the sale of electricity from the Thermal Power Generating Stations and the mere fact that a component of the tariff makes a reference to the tax liability with reference to income streams, does not make such a component as not income to be excluded in considering the relief under Section 80IA/80IB.” - Decided against revenue
|