Kerala HC allows Deduction u/s 80-IA to Kannan Devan Plantations

Kanan Devan Hills Plantations Company Pvt. Ltd. Vs ACIT (Kerala High Court) The appellant-assessee is a private limited company, engaged in the business of “growing, manufacturing, and selling tea and other produce.” It is also engaged in the business of distributing electricity taken from the State-owned Kerala State Electricity Board. 2. The assessee’s predecessor, Tata Tea Limited, had not only owned the plantation business but also generated hydel power from the pre-independence days. Post-independence, when the State took over the power generation, the company was allowed to buy ele...