https://www.taxtmi.com/caselaws?id=460323 The ITAT Ahmedabad upheld the CIT(A)'s decision allowing deduction under section 80IA for profits from an eligible power plant. The Tribunal ruled that certain expenses exclusively related to the Sponge Iron Unit should not be apportioned to the Power Plant Division when calculating eligible profits. This decision followed consistent precedents from the assessee's earlier years (AY 2008-09 and 2009-10) where similar relief was granted. The Tribunal found that the assessee charged associate concerns at market rates and rejected the revenue's appeal regarding expense apportionment between the power plant and manufacturing divisions. en-us Wed, 15 Jun 2022 00:00:00 +0530 Sun, 19 Jan 2025 09:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460323 The ITAT Ahmedabad upheld the CIT(A)'s decision allowing deduction under section 80IA for profits from an eligible power plant. The Tribunal ruled that certain expenses exclusively related to the Sponge Iron Unit should not be apportioned to the Power Plant Division when calculating eligible profits. This decision followed consistent precedents from the assessee's earlier years (AY 2008-09 and 2009-10) where similar relief was granted. The Tribunal found that the assessee charged associate concerns at market rates and rejected the revenue's appeal regarding expense apportionment between the power plant and manufacturing divisions. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460323