HC allows deduction u/s 80-IA for captive power unit's profits.

The HC held that profits derived from captive consumption of electricity generated by the assessee's power generation unit, being an eligible business, would qualify for deduction u/s 80-IA of the Income Tax Act, 1961. The interpretation of the term 'derived' in light of the Tribunal's finding rendered the assessee's power generation unit eligible for deduction as a separate undertaking u/s 80-IA. .....

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