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AO Cannot Override TPO: ITAT Mumbai Allows Full 80IA Deduction for Captive Power Sales
Case Law Details
- Case Name
- DCIT Vs Aarti Industries Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Aarti Industries Limited (ITAT Mumbai)
Assessee, engaged in manufacturing of chemicals, fertilizers & intermediates, operated a Captive Power Plant (CPP) for supplying electricity & steam to its own manufacturing unit. For AY 2015-16, it claimed deduction of ₹67.91 Cr u/s 80IA, comprising ₹22.91 Cr from sale of electricity & ₹45 Cr from sale of steam.
AO restricted deduction on electricity transactions, adopting ₹4.35/unit (rate at which GUVNL purchased power from generators) instead of ₹7.52/unit charged by CPP to manufacturing unit. This reduced eligible deducti...
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