Power distribution companies eligible for deduction of efficiency gain amount set apart

DCIT Vs TATA Power Delhi Distribution Ltd. (Delhi High Court) Assessee is under a statutory obligation to set apart 50% of the excess amount generated due to the overreaching of the targets, for the purpose of the consideration of the DERC to fix the future tariffs either  to give relief to the consumers or otherwise. A reading of the statute, notification and the orders of the DERC clearly indicates that the assessee is not free to use this efficiency gain amount the way it likes. Whether or not a separate   account is opened, when this amount is separately shown under this head in the boo...