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The HC held that profits derived from captive consumption of electricity generated by the assessee's power generation unit, being an eligible business, would qualify for deduction u/s 80-IA of the Income Tax Act, 1961. The interpretation of the term 'derived' in light of the Tribunal's finding rendered the assessee's power generation unit eligible for deduction as a separate undertaking u/s 80-IA.
The HC held that profits derived from captive consumption of electricity generated by the assessee's power generation unit, being an eligible business, would qualify for deduction u/s 80-IA of the Income Tax Act, 1961. The interpretation of the term 'derived' in light of the Tribunal's finding rendered the assessee's power generation unit eligible for deduction as a separate undertaking u/s 80-IA.
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