https://www.taxtmi.com/highlights?id=75016 Deduction u/s 80IA - profit of Generation of electricity - notional income from savings in Low Sulphur Heavy Stock (LSHS) due to steam generation by the assessee's captive power plant. - The tribunal emphasized that the assessee had fully disclosed the computation of profits, including the method of valuing steam generation, which constituted an integral part of the income from the industrial undertaking. The ITAT thus upheld the assessee's claim, affirming that notional income from steam generation could be considered for deductions under Section 80IA. en-us Mon, 19 Feb 2024 15:08:54 +0530 Mon, 19 Feb 2024 15:08:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75016 Deduction u/s 80IA - profit of Generation of electricity - notional income from savings in Low Sulphur Heavy Stock (LSHS) due to steam generation by the assessee's captive power plant. - The tribunal emphasized that the assessee had fully disclosed the computation of profits, including the method of valuing steam generation, which constituted an integral part of the income from the industrial undertaking. The ITAT thus upheld the assessee's claim, affirming that notional income from steam generation could be considered for deductions under Section 80IA. Highlights Income Tax Mon, 19 Feb 2024 15:08:54 +0530 https://www.taxtmi.com/highlights?id=75016