https://www.taxtmi.com/caselaws?id=251805 The dominant issue was whether profits attributable to electricity generated by an eligible windmill undertaking and captively consumed by the assessee qualify as "profits and gains derived from" the undertaking for deduction under s. 80-IB. Applying its earlier ruling, the HC held that once an undertaking is set up and begins functioning, the statute allows deduction of the entire profits derived from it for the prescribed period, and "profits" can arise through self-consumption of the undertaking's output by valuing the power consumed and corresponding cost savings. The Tribunal's view allowing s. 80-IB deduction on income relatable to captively consumed wind power was upheld, and the appeal was dismissed against the revenue. en-us Tue, 26 Aug 2014 00:00:00 +0530 Mon, 05 Jan 2026 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251805 The dominant issue was whether profits attributable to electricity generated by an eligible windmill undertaking and captively consumed by the assessee qualify as "profits and gains derived from" the undertaking for deduction under s. 80-IB. Applying its earlier ruling, the HC held that once an undertaking is set up and begins functioning, the statute allows deduction of the entire profits derived from it for the prescribed period, and "profits" can arise through self-consumption of the undertaking's output by valuing the power consumed and corresponding cost savings. The Tribunal's view allowing s. 80-IB deduction on income relatable to captively consumed wind power was upheld, and the appeal was dismissed against the revenue. Case-Laws Income Tax Tue, 26 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251805