TaxTMI 
TaxTMI 
2021 (1) TMI 479
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....ed 30.07.2019 for the Assessment Year 2006-07. 2. After hearing rival contentions we find that the ld. CIT(A) has followed the propositions of law laid down by the Tribunal in the assessee's own case for the AY 2013-14 in ITA Nos. 138/KOL/2018, 139/KOL/2018, 191/KOL/2018, 192/KOL/2018 and granted relief to the assessee. The discussion on this issue in the ld. CIT(A)'s order on the above issue is at page 29 para 16. For the sake of brevity, we do not extract the same. Suffice to say that we find no error in the order of the ld. CIT(A) as he has followed the decision of the Tribunal in the assessee's own case for the earlier AYs 2003-04 to 2011-12. The ld. CIT(A) at page 32 para 6 to page 34 para 10 held as follows: "1. I have carefully co....
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....ver the average landed cost, after excluding the electricity duty, is required to be considered as the transfer rate. The Ld. AO accordingly adopted the average tariff rate of Rs. 3.66/unit i.e. the tariff rate of CESC as opposed to Rs. 4.36/unit being the average landed cost at which the appellant procured power for its non-eligible unit. In this factual background, the limited dispute before the undersigned is whether electricity duty component is to be considered for arriving at the open market value i.e. the transfer price of power by the eligible unit to the non-eligible unit. 2. From the orders of the lower authorities, it is noted that the Ld. AO had relied on the decision of the Hon'ble ITAT, Mumbai in the case of West Coast P....
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....ches of the Tribunal at Kolkata in the following cases dismissed the Revenue's appeal against the CIT(A)'s order wherein the relief was allowed under Section 80IA in respect of profits of CPPs by taking selling price of electricity, equal to the landed cost (including electricity duty) at which the electricity was supplied by SEBs to the assessee's other Units consuming electricity. Dy.CIT Vs Kanoria Chemicals & Industries Ltd (ITA No.944/K/16) Graphite India Ltd Vs Addl.CIT (ITA No. 304-305/K/08) 5. I further note that the Hon'ble Gujarat High Court in its judgment dated 03.10.2016 in the case of Pr.CIT Vs Gujarat Alkalies & Chemicals Ltd (ITA No. 544 of 2016) dismissed the Revenue's appeal on the following specif....
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....a supplier: it should have been compared with the market value of power supplied to a consumer." 8. This question again came up for consideration before the Hon'ble Bombay High Court in the case of CIT Vs Reliance Industries Limited [2019] (102 taxmann.com 372) wherein the Hon'ble Court after considering the judgment of the Hon'ble Calcutta High Court in case of CIT vs ITC Ltd (supra), Hon'ble Chattisgarh High Court in case of CIT v. Godawari Power & Ispat Ltd. (supra) & Hon'ble Gujarat High Court in the case of Pr.CIT Vs Gujarat Alkalies & Chemicals Ltd (supra) held that the valuation of electricity provided by eligible unit to another non-eligible unit for the purposes of Section 80IA(8) should be at rate at which el....
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....at it could not raise the legal ground on the allowability of the deduction of education cess, u/s 37 of the Act for arriving at the taxable income, as the judicial pronouncements on this issue have come much later. The assessee claimed to know about these judicial decisions and then filed this Cross Objection. He submits that the ground in its Cross Objection is purely legal in nature not requiring verification of facts. He relied on the decision of the Hon'ble Supreme Court of India in the case of National Thermal Power Co. Ltd. vs. CIT [1998] 229 ITR 383 (SC) and prayed that the delay be condoned and the Cross Objection be admitted on the legal ground he has submitted. 5. The ld. D/R opposed this contention. He submitted that the delay ....