2024 (11) TMI 76

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....CIT(A)"] for the A.Y.2010-11 & 2012-13. Since the grounds raised by the assessee for both these appeals are identical in nature, these appeals are being clubbed and a consolidated order being passed. We now take up the appeal in ITA No. 195/VIZ/2024 for the A.Y.2010-11 as a lead appeal. ITA No. 195/VIZ/2023 (A.Y. 2010-11) 2. This appeal is filed by the assessee against order of the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter in short "Ld.CIT(A)"] vide DIN & Order No. ITBA/NFAC/S/250/2023-24/1052801702(1) dated 12.05.2023 for the A.Y.2010-11 arising out of order passed under section 143(3) of the Income Tax Act, 1961 (in short 'Act') dated 28.03.2013. 3. Brief facts of the....

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....sessee made similar submissions which was made before Assessing Officer. Considering the submissions made by the assessee, Ld. CIT(A) partly allowed the appeal. 5. Aggrieved by the order of the Ld. CIT(A), assessee is in appeal before us by raising following grounds of appeal: - "1. The order of the learned Commissioner of Income Tax (Appeals) is contrary to the facts and also the law applicable to the facts of the case. 2. The learned Commissioner of Income Tax (Appeals) is not justified in sustaining the addition of Rs. 61,19,772 made by the assessing officer by partly disallowing the deduction claimed u/s 80IA of the Act. 3. The learned Commissioner of Income Tax (Appeals) is not justified in sustaining the ....

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....anufacture of paper and therefore assessee installed boilers wherein high-pressure steam is converted into the boiler and sent to the turbine for generation of electricity and in this process high pressure steam is converted into low pressure steam which is being sent to the paper unit for drying of the paper. He further explained that therefore the cost of steam is being valued on the basis of average cost of fuel for the generation of such steam and accordingly arrived at Rs. 3,19,33,875/-. The Assessing Officer required the assessee to submit the cost of husk, chipper dust, fire wood, saw dust and coal which was used as the raw material for the generation of steam which was produced before the Assessing Officer. Ld.AR further submitted t....

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....r of the Company. He therefore pleaded that the basis of valuation adopted by the Assessing Officer is on the basis of published reports and not made on assumption. He therefore pleaded that addition may be sustained. 10. We have heard both the sides and perused the material available on record. The case of the Assessing Officer is that the assessee has claimed deduction under section 80IA of the Act with respect to the steam cost supplied to the paper unit by considering it as income in the books of the account of the assessee, thereby enhancing the profit of the power plant which is eligible for deduction under section 80IA of the Act and claiming the same as cost in the hands of the Paper unit. However, the only contention of the Ld.A....