https://www.taxtmi.com/caselaws?id=761090 ITAT Visakhapatnam allowed the assessee's appeal regarding Section 80IA deduction disallowance. The assessee operated two units - paper manufacturing and power generation - claiming deduction on steam cost supplied to the paper unit. The AO computed steam cost at Rs. 1200 per ton based on Director's Report disclosures, disallowing the deduction. ITAT held that AO failed to consider stores, spares, and other overheads beyond basic fuel costs. Finding the assessee's rate of Rs. 1500 per ton reasonable when including all costs, ITAT allowed the Section 80IA deduction as claimed. en-us Thu, 24 Oct 2024 00:00:00 +0530 Tue, 05 Nov 2024 07:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761090 ITAT Visakhapatnam allowed the assessee's appeal regarding Section 80IA deduction disallowance. The assessee operated two units - paper manufacturing and power generation - claiming deduction on steam cost supplied to the paper unit. The AO computed steam cost at Rs. 1200 per ton based on Director's Report disclosures, disallowing the deduction. ITAT held that AO failed to consider stores, spares, and other overheads beyond basic fuel costs. Finding the assessee's rate of Rs. 1500 per ton reasonable when including all costs, ITAT allowed the Section 80IA deduction as claimed. Case-Laws Income Tax Thu, 24 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761090