Deduction u/s 80IA - AO held that the assessee maintained ...

Case Laws     Income Tax

August 20, 2022

Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by the assessee for each and every wind mill, hence, the profit/loss of each wind mill cannot be ascertained from the incomplete record, therefore, deduction u/s 80IA was disallowed - the assessee is eligible to claim deduction of profit of each undertaking from different period. Thus, each undertaking has to be considered as a separate undertaking and cannot be clubbed in order to compute the deduction under Section 80IA - CIT(A) rightly allowed the claim - AT

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