2012 (6) TMI 893

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.... For the Respondent : Shri K.N. Sesha Gopal ORDER PER SAKTIJIT DEY, JM: This appeal by the Revenue is directed against the order of the CIT(A)-III, Hyderabad dated 12.11.2010 for assessment year 2007-08. 2. In the grounds raised the Revenue has basically challenged the allowance of deduction claimed u/s. 80IA of the Income-tax Act, 1961 by the CIT(A) on the captive power generation p....

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.... deduction u/s. 80IA by furnishing audit report in prescribed form No. 10CCB along with audited accounts in respect of such undertaking. Even though the Assessing Officer has admitted the fact that for the A.Ys. 2001-02 to 2003-04 and again for the A.Ys. 2004-05 to 2006-07, the ITAT in assessee's own case has allowed the claim of deduction u/s. 80IA of the Act, he, however, disallowed the clai....

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....g and 9.5 MW turbine power undertaking. The CIT(A) in his order has held in the following lines: "5. I have carefully considered the submissions of the Id. AR and the facts of the case. I have gone through the said order dated 18.05.2007 of the Hon'ble jurisdictional Tribunal passed in the case of the appellant for the Asst. Years 2001-02 to 2003-04 and the subsequent order dated 15.1....

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....IAL SBEC Bio-energy Ltd. in ITA No. 5461/De1/03 dated 26.03.2004, in para 18 of the said order, the Hon'ble Tribunal held that steam is a form of power and undertakings engaged in generation of steam, is eligible for deduction u/s. 80IA. In para 19 of the said order, the Hon'ble Tribunal further held that in respect of each such unit the appellant has maintained separate accounts, substant....