Disallowance of inflated coal expenses - the case of the Revenue ...

Revenue's Challenge on Inflated Coal Costs Dismissed as Tariff Price Already Covers Costs, Reflects in Taxable Profits.

August 24, 2023

Case Laws     Income Tax     AT

Disallowance of inflated coal expenses - the case of the Revenue is that assessee might have inflated cost of the coal, however, once the cost of the coal is part of tariff price determination by the regulatory authority and once the electricity is sold on the same tariff which has been credited to the profit and loss account and offered to tax, then there is no question of separately taxing the alleged inflated cost of coal. - AT

 

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