{"id":39715,"date":"2024-03-01T16:50:50","date_gmt":"2024-03-01T11:20:50","guid":{"rendered":"https:\/\/itatonline.org\/digest\/odisha-power-generation-corporation-ltd-v-acit-2023456-itr-495-2022-138-taxmann-com-341orissahc\/"},"modified":"2024-09-14T13:27:34","modified_gmt":"2024-09-14T07:57:34","slug":"odisha-power-generation-corporation-ltd-v-acit-2023456-itr-495-2022-138-taxmann-com-341orissahc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/odisha-power-generation-corporation-ltd-v-acit-2023456-itr-495-2022-138-taxmann-com-341orissahc\/","title":{"rendered":"Odisha Power Generation Corporation Ltd. v. ACIT (2023)456 ITR 495 \/[2022] 138 taxmann.com 341(Orissa)(HC)\/Editorial : SLP of Revenue is dismissed , ACIT v. Orissa Power Generation Corporation Ltd. (2024) 298 Taxman 273 (SC)"},"content":{"rendered":"<p>Allowing the appeal the Court held that the assessee had no other source of income except through generation and sale of power. All its receipts and expenditure related to a single activity of power generation. The interest received from the bonds issued by the Grid Corporation had a direct nexus with its essential business activity and, therefore, was income derived from interest is\u00a0 eligible for deduction.(AY.2002-03, 2003-04, 2007-08 to 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Generation of power-Interest on Bonds issued by Grid Corporation in lieu of  unpaid energy bills-Eligible for deduction. [S.80IA (iv)(a),80IB, 80IC] <\/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-39715","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-akz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39715","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=39715"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39715\/revisions"}],"predecessor-version":[{"id":46237,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39715\/revisions\/46237"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}