https://www.taxtmi.com/caselaws?id=250608 The dominant issue was whether profits attributable to electricity generated and captively consumed qualify for deduction under s. 80-IA where the power cannot be sold to third parties. The HC held that the eligible power generation unit constitutes a separate "undertaking" under s. 80-IA, and the objection that no profit can arise from dealings with oneself was untenable in view of binding precedent; s. 80-IA(10) was not directly attracted to captive consumption, as it targets inflation of profits due to close connection with recipients. Consequently, the deduction claim was upheld in principle, while computation was left to the AO under s. 80-IA(8) pursuant to the Tribunal's remand. The appeal was dismissed against the Revenue. en-us Thu, 31 Jul 2014 00:00:00 +0530 Mon, 05 Jan 2026 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250608 The dominant issue was whether profits attributable to electricity generated and captively consumed qualify for deduction under s. 80-IA where the power cannot be sold to third parties. The HC held that the eligible power generation unit constitutes a separate "undertaking" under s. 80-IA, and the objection that no profit can arise from dealings with oneself was untenable in view of binding precedent; s. 80-IA(10) was not directly attracted to captive consumption, as it targets inflation of profits due to close connection with recipients. Consequently, the deduction claim was upheld in principle, while computation was left to the AO under s. 80-IA(8) pursuant to the Tribunal's remand. The appeal was dismissed against the Revenue. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250608