https://www.taxtmi.com/caselaws?id=378180 The Madras High Court ruled in favor of the assessee in Tax Case Appeals concerning the interpretation of tax liability as part of the sale price for electricity in calculating relief under Section 80IA of the Income Tax Act for assessment years 2003-2004 and 2004-2005. The court held that the tax component, specified as part of the tariff, should be considered an integral part of the sale price and not a reimbursement, setting aside the Tribunal's order and emphasizing the genuineness of the agreement between the parties. The court's decision aligned with its previous ruling in a similar case involving Neyveli Lignite Corporation Ltd., ultimately favoring the assessee and allowing the appeals without costs. en-us Mon, 26 Nov 2018 00:00:00 +0530 Wed, 10 Apr 2019 07:07:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378180 The Madras High Court ruled in favor of the assessee in Tax Case Appeals concerning the interpretation of tax liability as part of the sale price for electricity in calculating relief under Section 80IA of the Income Tax Act for assessment years 2003-2004 and 2004-2005. The court held that the tax component, specified as part of the tariff, should be considered an integral part of the sale price and not a reimbursement, setting aside the Tribunal's order and emphasizing the genuineness of the agreement between the parties. The court's decision aligned with its previous ruling in a similar case involving Neyveli Lignite Corporation Ltd., ultimately favoring the assessee and allowing the appeals without costs. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378180