Deduction u/s 80IA available as cost of imported power is charged before computing eligible deduction

DCIT Vs Bannari Amman–Sugars Ltd. (ITAT Chennai) ITAT Chennai held that disallowance of deduction u/s 80IA of the Income Tax Act unsustainable as cost of power imported is charged before computing income eligible for deduction u/s 80IA. Facts- The assessee is a limited company engaged in the business of manufacturing of sugar, alcohol, granite and cogeneration of power. Case of the assessee was selected for scrutiny. The assessment has been completed after making various disallowance and additions amounting to Rs.3,14,60,641/-. Aggrieved, the assessee preferred an appeal before the Ld.CIT(A)...