https://www.taxtmi.com/caselaws?id=294144 The ITAT upheld the CIT(A)'s decision on all three issues in the case. The CIT(A) ruled in favor of the assessee, stating that no income should be recognized for the steam supplied to SBEC Sugar Ltd. due to the barter system in place. Additionally, the CIT(A) allowed the deduction under section 80IA for the sale of steam, considering it as a form of power. The claim for deduction on 50% of receipts from the sale of power to UPSEB was also permitted by the CIT(A), following previous decisions in favor of the assessee. The Revenue's appeal was dismissed for lack of contrary evidence. en-us Wed, 07 Mar 2012 00:00:00 +0530 Tue, 23 Mar 2021 14:50:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294144 The ITAT upheld the CIT(A)'s decision on all three issues in the case. The CIT(A) ruled in favor of the assessee, stating that no income should be recognized for the steam supplied to SBEC Sugar Ltd. due to the barter system in place. Additionally, the CIT(A) allowed the deduction under section 80IA for the sale of steam, considering it as a form of power. The claim for deduction on 50% of receipts from the sale of power to UPSEB was also permitted by the CIT(A), following previous decisions in favor of the assessee. The Revenue's appeal was dismissed for lack of contrary evidence. Case-Laws Income Tax Wed, 07 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294144