Memorandum explaining
provisions indicate that the steam power or refrigeration power are included in
sec. 80IA(4) of the Act. Further the assessee ... Power from
Bio-gas, Cooling power from Cooling Towers and Cooling power from Ammonia
Absorption Refrigeration Plant are entitled for deduction u/s 80IA
80IA used the term "power" and not any specific form of "power". The
"power" implies source of energy ... Paper Mills Ltd.
16
power cannot imply sources of energy but only to electricity power as
contemplated in section 80IA(4) . He also distinguished
mean electricity. According to the AO, steam power and
cooling power is not power as per Section 80IA(4)(iv) of the Act. Water
that ... lines. This reference is electric power and cannot apply to
steam power, refrigeration power or any other form of power. If the
assessee
power unit no.6. The said unit was engaged in the
generation of power in the form of steam and electricity. The power generation from ... respect of power unit no.3 at Rs.4,69,97,342; power unit no.4 at Rs. 7,51,92,287; power unit
power. The profits can be said to be derived from
Captive Power Plant, if the power is being generated by the
Captive Power Plant ... steam at Rs.1.70 per kg.
(b) Torrent Power Ltd., a biggest power generator
company in the Ahmedabad region has posted PBT
margin
mean electricity. According to the AO, steam power and
cooling power is not power as per Section 80IA(4)(iv) of the Act. Water
that ... lines. This reference is electric power and cannot apply to
steam power, refrigeration power or any other form of power. If the
assessee
80IA in respect
of income other than income derived from eligible
sources;
d. Irregular allowance of deduction U/s 80IA of Power
Plant unit ... deduction
u/s.80IA was also furnished. Copy of the Profit and Loss Account for 80IA
and non 80IA activities of the assessee company along
power unit no.6. The said unit was engaged in the generation of power in the form of steam and
electricity. The power generation from ... respect of
power unit no.3 at Rs.4,69,97,342; power unit no.4 at Rs. 7,51,92,287; power unit
80IA of the Act with another unit
eligible u/s. 80IA of the Act.
10. The assessee was owner of two power plants which were ... power plants of assessee has declared
profit as detailed under:-
1. 80IA power plant-1 ₹6,60,39,030/-
2. 80IA power plant
Power Division,
Durg" has charged a rate of power of Rs. 3.24 per
KWH, the rate of power charged by Power division
Tawa ... running in huge losses and even major
power companies like Tata Power and Reliance
Power are showing gross profit of only
