{"id":18048,"date":"2021-05-10T17:24:57","date_gmt":"2021-05-10T11:54:57","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vedanta-ltd-v-acit-2020-84-itr-84-delhitrib-4\/"},"modified":"2021-05-10T17:24:57","modified_gmt":"2021-05-10T11:54:57","slug":"vedanta-ltd-v-acit-2020-84-itr-84-delhitrib-4","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vedanta-ltd-v-acit-2020-84-itr-84-delhitrib-4\/","title":{"rendered":"Vedanta Ltd. v. ACIT (2020) 84 ITR 84 (Delhi)(Trib.)"},"content":{"rendered":"<p>Tribunal held that extraction and processing of iron ore amounted to production. Electric energy would be covered under the definition of \u201cgoods\u201d and generation of power would amount to manufacture or production of goods. Therefore, the assessee was eligible for allowance under section\u00a032AC\u00a0of the Act. Followed, CST v. Madhya Pradesh Electricity Board\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b1970%5d%20025%20STC%200188\">(1970) 25 STC\u00a0 188<\/a>\u00a0(SC) and PCIT\u00a0 v. NTPC\u00a0 Sail\u00a0 Power Co. P Ltd \u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b2020%5d%20428%20ITR%200535\">(2020)428 ITR\u00a0 535<\/a>\u00a0(Delhi)(HC) \u00a0(AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32AC : Investment  in new pant or machinery-Generation of  power amounts to manufacture or  production of  goods-Eligible for allowance. <\/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":[21],"tags":[],"class_list":["post-18048","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4H6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18048","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=18048"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18048\/revisions"}],"predecessor-version":[{"id":18049,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18048\/revisions\/18049"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=18048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=18048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}