https://www.taxtmi.com/caselaws?id=404221 For section 80IA, only profits directly derived from the eligible undertaking qualify, so miscellaneous receipts, surcharge on delayed Electricity Board payments and interest from others were excluded, though 10% of such other income was allowed as relatable expenditure in recomputation. Surcharge recoverable under the tariff and tripartite arrangement was taxed on accrual when the right to receive arose. TPS-I expansion was treated as a separate eligible power undertaking for section 80IA. UPS was held to form part of the computer system for higher depreciation, drainage and water supply structures were treated as plant, and insurance spares were allowed as revenue expenditure. The section 14A disallowance was remanded for fresh computation. en-us Mon, 08 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404221 For section 80IA, only profits directly derived from the eligible undertaking qualify, so miscellaneous receipts, surcharge on delayed Electricity Board payments and interest from others were excluded, though 10% of such other income was allowed as relatable expenditure in recomputation. Surcharge recoverable under the tariff and tripartite arrangement was taxed on accrual when the right to receive arose. TPS-I expansion was treated as a separate eligible power undertaking for section 80IA. UPS was held to form part of the computer system for higher depreciation, drainage and water supply structures were treated as plant, and insurance spares were allowed as revenue expenditure. The section 14A disallowance was remanded for fresh computation. Case-Laws Income Tax Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404221