9911796707
TMI Blog2024 (5) TMI 1511X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of IEX appears to have been accepted while completing assessment for subsequent Assessment Year ["AY"] namely 2015-16. Appellant prays for time to examine the order passed by CIT(A) for AY 2015-16 and which is referred to by the ITAT. Transfer of steam from the eligible unit to the non-eligible unit of the assessee - appellant seeks to contend that since steam was a by-product of the business and would have been included in the cost of power generation, it should not have been taken into account. We, however, find that the aforesaid issue and aspect was concerned with the transfer of steam to the non-eligible unit and for the purposes of which the assessee would have been justified in relying on the cost of production. We, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acts and in circumstances of the case and law, the Hon‟ble ITAT erred in law and on facts in deleting addition amounting to Rs. 91,49,571/- made by the AO on account of disallowance u/s 14A r.w. Rule 8D of the IT Act, 1961? E. Whether on facts & in the circumstances of the case and law, the Hon‟ble ITAT erred in law and on facts in allowing additional ground raised by the assessee for deduction of education cess amounting to Rs. 1,33,41,210/- claimed by the assessee u/s 37 of the IT Act?" 2. Insofar as Question D is concerned, we had in terms of our order dated 09 October 2023 found that it raised no substantial issue of law. That leaves us to examine the question pertaining to the exclusion of Indian Energy Exchange ['IEX' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax (Appeals) ['CIT(A)'] for AY 2015-16 and which is referred to by the ITAT. 5. Question C pertains to the transfer of steam from the eligible unit to the non-eligible unit of the assessee. The appellant seeks to contend that since steam was a by-product of the business and would have been included in the cost of power generation, it should not have been taken into account. We, however, find that the aforesaid issue and aspect was concerned with the transfer of steam to the non-eligible unit and for the purposes of which the assessee would have been justified in relying on the cost of production. We, therefore, are of the opinion that Question C raises no substantial issue. 6. Similarly, Question E essentially rests on certain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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