CIT v. Reliance Energy Ltd (2021) 127 taxmann.com 69 / 320 CTR 473 / 201 CTR 73 (SC)CIT v. Reliance Energy Ltd (2021) 127 taxmann.com 69 / 320 CTR 473 / 201 CTR 73 (SC)

S. 80IA : Industrial undertakings – Infrastructure development – Scope of S/80IA(5) is limited to determine quantum of deduction under S/80IA(1) by treating ‘eligible business’ as ‘only source of income’ – However, S/80IA(5) cannot be read to limit the deduction only to business income. [ S80AB ]

Held by the High Court that the scope of Section 80IA(5) of the Act is limited to determination of quantum of deduction under Section 80IA(1) by treating ‘eligible business’ as the ‘only source of income’. Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ‘business income’.  (AY 2002-03)

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