Held that handling charges, interest received from employees and miscellaneous Income, surcharge received from Electricity Boards for delayed payment of receivables in respect of supply of electricity, Interest received from third party for delay in payment, not Income generated from business operations, not eligible for deduction. Income from expansion of unit, eligible deduction. (AY. 2013-14, 2014-15)
NLC India Ltd. v. Dy.CIT (2021) 87 ITR 121 (Chennai)(Trib.)
S. 80IA : Industrial undertakings-Eligible profits-Business of power generation-Handling charges, interest received from employees and miscellaneous Income-Surcharge received from Electricity Boards for delayed payment of receivables in respect of supply of electricity-Interest received from third party for delay in payment-Not Income Generated From Business Operations-Not eligible for deduction-Expansion of unit-Eligible deduction.