No Reduction of 80-IA Deduction in 80HHC Computation Where Profits Are Distinct: Calcutta HC

Graphite India Ltd. Vs CIT (Calcutta High Court) Electricity Duty Cannot Be Excluded from Market Value Under Section 80-IA, Rules High Court; Sales Tax Remission for Industrial Expansion Held Capital Receipt, Not Taxable Income; Capital Subsidy Cannot Be Included in MAT Book Profits Under Section 115JB; SEB Tariff Including Duty Is Correct Benchmark for Captive Power Pricing; Section 80-IA(9) Does Not Apply to Independent Income Streams, Clarifies High Court. In this case, the appeal was filed under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate ...