TMI Blog2011 (11) TMI 762X X X X Extracts X X X X X X X X Extracts X X X X ..... 2092 of 2010 - - - Dated:- 22-11-2011 - MR.JUSTICE AKIL KURESHI AND MS JUSTICE SONIA GOKANI MR BHATT, SR. ADV. WITH MRS MAUNA M BHATT FOR THE APPELLANT ORAL ORDER (Per : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue is in appeal against the judgment of the Tribunal dated 8.1.2010 raising following questions for our consideration:- [A] Whether the Appellate Tribunal is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h respect to Question [B], the issue pertains to sub- Section (8) of Section 80IA of the Income Tax Act, 1961. The assessee had a CPP Unit generating electricity, which was supplying it to a general unit. The electricity generated is being supplied to other consumers also. The CPP unit charged ₹ 5.40 ps. per unit from the general unit. The Assessing Officer applying sub-Section (8) of Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. The Tribunal was of the opinion that the market value of the electricity supplied by the CPP Unit to the general unit would be the same being charged by GEB from the consumers. 5. Counsel for the Revenue contended that the component of 8 paise per unit was the electricity duty which GEB was not authorized to retain but had to pass on to the Government. In essence, GEB was only collecting 8 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if the transfer had been made at the market value of such goods or services. It is in this context that the question of substituting the actual consideration by the market value comes into picture. 7. We may notice that the Tribunal did not accept the contention of the assessee that the electricity is neither goods nor services and that, transfer of electricity, therefore, would not be covered ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
