https://www.taxtmi.com/caselaws?id=263825 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal, ruling that income from the sale of sludge and waste oil was eligible for deduction under section 80IA. It found that such income was directly linked to the power generation business of the assessee, distinguishing it from mere scrap sales. The decision clarified the interpretation of "derived from" in the context of industrial undertaking profits, emphasizing the technical necessity of the by-products in the power generation process. The Tribunal's judgment relied on legal precedents to support its conclusion, affirming the eligibility of the assessee for the deduction. en-us Fri, 28 Aug 2015 00:00:00 +0530 Fri, 11 Sep 2015 07:52:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263825 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal, ruling that income from the sale of sludge and waste oil was eligible for deduction under section 80IA. It found that such income was directly linked to the power generation business of the assessee, distinguishing it from mere scrap sales. The decision clarified the interpretation of "derived from" in the context of industrial undertaking profits, emphasizing the technical necessity of the by-products in the power generation process. The Tribunal's judgment relied on legal precedents to support its conclusion, affirming the eligibility of the assessee for the deduction. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263825