The assessee had claimed deduction under S. \u00a080 IA(4)\u00a0 on account of the operation of the captive power plant. The AO\u00a0 held that \u201cvapour\u201d would not fall within the meaning of \u201cpower\u201d. The CIT (A) and the Tribunal upheld the assessee\u2019s claim.\u00a0 On appeal dismissing the appeal of the revenue the Court held that S.\u00a080IA(4)\u00a0of the\u00a0 Act, provides for special deduction to industrial undertakings engaged in the production of power. The word \u201cpower\u201d should be understood in common parlance as \u201cenergy\u201d. \u201cEnergy\u201d can be in any form, mechanical, electricity, wind or thermal. In such circumstances, \u201csteam\u201d produced by an assessee can be termed as power and would qualify for the benefits available under S.\u00a080IA(4) of the Act .( AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IA :Industrial undertakings – Production of power \u2014Energy – Power would Include steam – Steam produced can be termed as power and would qualify for the benefits . [ S.80IA(4) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12097","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-397","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12097"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12097\/revisions"}],"predecessor-version":[{"id":15549,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12097\/revisions\/15549"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}