TMI Blog2019 (2) TMI 1211X X X X Extracts X X X X X X X X Extracts X X X X ..... sh which came up for consideration before the CIT (appeals) and Tribunal in the present case is substantially similar. Though obviously cannot be identical to the sales tax exemption scheme of the Government of Gujarat which was examined in case of M/s. Indian Petrochemicals Corporation Limited [2019 (1) TMI 1364 - BOMBAY HIGH COURT]. Under the circumstances, the first question raised by the revenue is not entertained. Disallowing the deduction u/s 80IA - assessee had set up a captive power generating unit - rate at which the electricity generated by one unit of the assessee-company and provided to the another be valued - HELD THAT:- As decided in COMMISSIONER OF INCOME TAX-LTU VERSUS M/S RELIANCE INDUSTRIES LTD. [2019 (2) TMI 178 - BOMB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rores (rounded off) received by way of sales tax exemption scheme of the Government of Gujarat and Government of Uttar Pradesh in relation to the assessee's three different projects. The assessee contended that the receipt was capital in nature as against the revenue's contention that the sales tax exemption/waiver resulted into revenue receipts in the hands of the assessee. The Commissioner of Income Tax in the Appellate Order after detailed discussion held that the receipts were capital in nature. In so far as the receipts arising out of the sales tax exemption scheme of State of Gujarat is concerned, we find that the issue is no longer resintegra. Gujarat High Court in case of Commissioner of Income Tax-1 Vs. Indian Petrochemica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present case the asssessee's claim arose out of two more receipts both under the sales tax exemption scheme of Government of Uttar Pradesh. We notice that this issue has been elaborately discussed by the Commissioner (Appeals). He took note of the various terms of the scheme of State of Uttar Pradesh and noted that depending on the location of the units of the eligible assessees, sales tax exemption was granted in terms of percentage of capital investment. The scheme itself was founded on the basis of attracting capital investments in certain backward areas. That bring the position, the scheme of Utter Pradesh which came up for consideration before the CIT (appeals) and Tribunal in the present case is substantially similar. Though obvio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessee from Tata Power Company as market value. There is nothing brought on record as to how the rate determined by the MERC is the true market value. The Assessee gave explanation that the rates determined by the MERC do not reflect the correct market rate. The finding is that the mode of computation and deduction under Section 80IA requires no deviation from the past. The findings of fact and to be found in paragraphs 42 to 50 also reflect that the very issue came up for consideration for the Assessment Year 20032-004. For the reasons assigned by the ITAT and finding that the attempt is to seek reappreciation and reappraisal of the factual data that we come to a conclusion that even question (d) as framed is not a substantial ..... X X X X Extracts X X X X X X X X Extracts X X X X
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