https://www.taxtmi.com/caselaws?id=444470 Section 115JB was held inapplicable to a joint-venture electricity distribution company, following the view that such entities were not intended to fall within MAT. Amounts linked to over-achievement of AT&C loss targets were treated as ring-fenced tariff adjustments and not real income taxable in the assessee's hands. Interest on consumer security deposits was allowed as revenue expenditure, late payment surcharge was recognised on receipt basis rather than accrual, and enhanced profits of the eligible unit continued to qualify for deduction under section 80IA. The penalty challenge was rejected as premature, TDS credit was remitted for verification, and interest under sections 234B and 234C was held consequential, with section 234C to be computed on returned income. en-us Thu, 05 Oct 2023 00:00:00 +0530 Tue, 19 May 2026 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444470 Section 115JB was held inapplicable to a joint-venture electricity distribution company, following the view that such entities were not intended to fall within MAT. Amounts linked to over-achievement of AT&C loss targets were treated as ring-fenced tariff adjustments and not real income taxable in the assessee's hands. Interest on consumer security deposits was allowed as revenue expenditure, late payment surcharge was recognised on receipt basis rather than accrual, and enhanced profits of the eligible unit continued to qualify for deduction under section 80IA. The penalty challenge was rejected as premature, TDS credit was remitted for verification, and interest under sections 234B and 234C was held consequential, with section 234C to be computed on returned income. Case-Laws Income Tax Thu, 05 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444470