https://www.taxtmi.com/caselaws?id=409221 The Appellate Tribunal ITAT Mumbai upheld the decision of the Commissioner of Income Tax (Appeals) in denying the claim of the assessee under Section 80IA of the Income Tax Act. The Tribunal determined that the assessee, engaged in textile manufacturing and electricity generation, did not qualify for the deduction as the rate at which electricity was sold to the Rajasthan State Electricity Board was higher than the actual rate realized. The Tribunal emphasized that the relevant factor for the deduction was the number of units supplied to the grid, not the rate at which the electricity was sold to consumers. The appeal was dismissed on 1st July 2021. en-us Thu, 01 Jul 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:59:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409221 The Appellate Tribunal ITAT Mumbai upheld the decision of the Commissioner of Income Tax (Appeals) in denying the claim of the assessee under Section 80IA of the Income Tax Act. The Tribunal determined that the assessee, engaged in textile manufacturing and electricity generation, did not qualify for the deduction as the rate at which electricity was sold to the Rajasthan State Electricity Board was higher than the actual rate realized. The Tribunal emphasized that the relevant factor for the deduction was the number of units supplied to the grid, not the rate at which the electricity was sold to consumers. The appeal was dismissed on 1st July 2021. Case-Laws Income Tax Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409221