https://www.taxtmi.com/caselaws?id=408768 The ITAT allowed the appeal of the power generation company, holding that the generation of electricity qualifies as manufacturing under Section 32AC of the Income Tax Act. The tribunal directed the AO to grant the investment allowance under Section 32AC to the company, overturning the CIT(A)'s decision that power generation companies were not eligible for such benefits. en-us Mon, 14 Jun 2021 00:00:00 +0530 Mon, 21 Jun 2021 09:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408768 The ITAT allowed the appeal of the power generation company, holding that the generation of electricity qualifies as manufacturing under Section 32AC of the Income Tax Act. The tribunal directed the AO to grant the investment allowance under Section 32AC to the company, overturning the CIT(A)'s decision that power generation companies were not eligible for such benefits. Case-Laws Income Tax Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408768