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Profit by captive consumption of electricity eligible for deduction u/s. 80-IA: Rajasthan HC
Case Law Details
- Case Name
- Hindustan Zinc Ltd. Vs CIT (Rajasthan High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Rajasthan High Court
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Hindustan Zinc Ltd. Vs CIT (Rajasthan High Court)
Rajasthan High Court held that profits and gains generated by captive consumption of electricity is eligible for deduction under section 80-IA of the Income Tax Act. Accordingly, appeal of revenue dismissed.
Facts- The assessee company derives income from manufacturing of zinc, lead and its by-products. The assessment of the assessee was completed on 22.12.2006 u/s. 143(3) of the Act of 1961 on total income of Rs. 7,33,72,00,910/- wherein AO had allowed the deduction under Section 80-IA of the Act, 1961 of Rs.27,89,49,535/- in respect of the as...
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