Assessee can avail 80-IA deduction in respect of notional profit on account of power generation from its own captive power plant and utilised by itself – Madras HC

Tamil Nadu Petro Products Ltd. Vs. Asstt. CIT (Madras High Court) – Section 80-IA and in particular sub-cl. (iv) of the said section which provides for the benefit even in respect of electricity generation plant established by the assessee and the income derived from such enterprise of the assessee, it will have to be held that the assessee fully complied with the requirements prescribed under section 80-IA in order to avail the benefits provided therein. Therefore, the contention based on the interpretation of the expression ‘derived from’ can have no application to the case where t...