Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: appellate tribunal for electricity aptel Page 1 of about 100 results (0.041 seconds)

Jul 20 2012 (TRI)

Andhra Pradesh Power Co-ordination Committee and Others Vs. Andhra Pra ...

Court : Appellate Tribunal for Electricity APTEL

..... ble aptel has ultimately held: (i) the definition of law and change in law as per the ppa would clearly establish that the amendment of income tax act, 1961 by introduction of section 115 jb by legislature squarely falls under the definition of change in law under clause 20.21 of the ppa. (ii) the ..... not be entitled to claim the amount made under the mat in respect of the period 2006 to 2009 as they have availed the tax holiday under section 80-ia of income tax act, 1961 and as such the impugned order is wrong. 11. on this point, we have heard both the learned counsel for the ..... objection stating that the lanco kondapalli would not be entitled to the payment of mat in respect of the said period since the tax holiday under sec 80-ia of the income tax act had been availed. the state commission after hearing both parties passed the impugned order dated 20.3.2012 dealing with the said ..... categorically held that the jai prakash power ventures, the appellant is entitled to payment of mat as per actuals during the tax holiday period availed by appellant under section 80-ia of the income tax act, 1961. the findings in this matter also attained finality as the ratio decided in that case has not been set ..... of its project i.e. from fy 2003-04 onwards. however, by insertion of section 115 jb in the income tax act w.e.f. 1.4.2001, the petitioner and such other companies availing tax holiday under section 80-ia are subjected to payment of mat. 30. the learned advocate for the respondent in .....

Tag this Judgment!

Jan 13 2009 (TRI)

Delhi Transco Ltd. Vs. Delhi Electricity Regulatory Commission and Oth ...

Court : Appellate Tribunal for Electricity APTEL

..... a subsequent year. in the case of radhasoami satsang the appellant trust was being given benefit of exemption under section 4(3)(1) of the income tax act 1922 on the finding that the offerings to the trust/the satgurus were not used for the personal use of satgurus and the offerings were given ..... trust character at the time of receipt. this position continued for several decades till in the assessment years 1964-65, 1965-66 and 1966-67 the income tax authorities took a different view and denied the exemption that was being received by the appellant trust. it was in this context that the supreme court ..... in the factual no. of corrections position. in m/s. radhasoami satsang swami bagh, agra vs. commissioner of income tax (1992) 1 scc 659 the supreme court reiterating that res judicata does not apply to income tax proceedings said each assessment year being a unit, what is decided in one year may not apply in the ..... in the fy 2002-03 and in 2003-04 and rs.219 cr. in the fy 2005-06 are taken as revenue of the appellant, the income required to be generated for the appellant from tariff would also be reduced. the appellant, therefore, has been granted a tariff which is artificially low. the ..... to appellant to be ploughed back into the sector. the commission contends that if the money is given to the appellant it will be considered as income for the appellant and the overall gap in the sector will reduce which will reduce the tariff. the commission reiterates that it has earlier rejected the .....

Tag this Judgment!

Feb 15 2011 (TRI)

Tata Power Company Limited Bombay House, Mumbai Vs. Mahrashtra Electri ...

Court : Appellate Tribunal for Electricity APTEL

..... on the taxable income to arrive at the tax entitlement. 32. the state commission has attempted to ..... follow the profit before tax method instead of computing regulatory profit before tax by ..... regulatory profit before tax computed as revenue permissible expenses. (ii) adjust this for normative interest /regulatory depreciation etc. to arrive at book profit before tax. (iii) this is further adjusted for various tax disallowances/exemptions/deductions under the income tax act, 1961. (iv) the resultant figure is the taxable income on which tax is to be paid. (v) current tax rate is applied ..... fbt with approved oandm expenses for computation of sharing of gains and loss for controllable factors. accordingly ordered. 31. the next issue is wrongful treatment of income tax. according to the appellant, the state commission has to implement the mandate of the regulation 34 of the state commissions tariff regulations 2005. the mandate is .....

Tag this Judgment!

Aug 18 2010 (TRI)

Ntpc Limited, New Delhi Vs. Central Electricity Regulatory Commission ...

Court : Appellate Tribunal for Electricity APTEL

..... out the charges to be recovered from consumers for supply of electricity, one has to follow the provisions of the schedule to the said electricity act and that one has not to follow the provisions of the income-tax act while calculating depreciation as one the items of expense under the electricity accounting. 32. again honble supreme courts observations at para 42 ..... are trade finance given to the purchaser by a seller which normally carries 0% rate of interest and considering the same as equity and order for 16% return along with income tax or weighted average rate of interest would be prejudicial to end consumer. with respect to the capital cost, it has been argued that equity deployed in excess of 30% of ..... liability is assumed. such liability is not deferred. only the payment in respect of the same is deferred. thus the words actually incurred containing in the regulation 17 of the act would refer to the liabilities incurred and the same would not refer to the actual cash outflow. we find that in appeal no. 151 and 152/07 ntpc vs cerc ..... , 1997 edition) which defines incur as -`to become subject` to or liable for by an act or operation of law. mr. ramachandran also relied on the decision in madras industrial investment corn. ltd.-v-cit(1997)4 scc 666, indira nehru gandhiv- raj narain 1975 (supp) scc 1, cit, gujarat-v-tejaji farasram kharawalla ltd. (1968) 1 scr, 37, chakoo bhai ghelabhai v .....

Tag this Judgment!

Mar 23 2010 (TRI)

Torrent Power Limited Vs. Gujarat Electricity Regulatory Commission

Court : Appellate Tribunal for Electricity APTEL

..... through in the tariff. this would ensure that the appellant earns permissible return of 14% stipulated in regulation 66 of the regulations and mandate of section 195a of the income tax act is also complied with. the national tariff policy stipulates that the regulatory commission may adopt rate of return as notified by the central commission with appropriate modifications taking into view ..... of 14% on equity. here it is pertinent to advert to the following provision of the income tax act, 1961 regarding tax on income. income payable net of tax 195. in a case other than that referred to in sub-section (1a) of section 192, the tax chargeable on any income referred to in the foregoing provisions of this chapter is to be borne by the person by ..... computed as an expense and shall be recovered from the beneficiaries. (2) any under-recoveries or over-recoveries of tax on income shall be adjusted every year on the basis of income-tax assessment under the income tax act, 1961, as certified by the statutory auditors. provided that tax on any income stream other than the core business shall not constitute a pass through component in tariff and ..... the net amount payable under such agreement or arrangement. 52. a conjoint reading of the regulation 7, regulation 66 of the state commission and section 195(a) of the income tax act, 1961 leaves no doubt that the recovery of income tax paid as an expense from the beneficiaries requires to be grossed up in such a manner as to ensure that the actual .....

Tag this Judgment!

May 09 2011 (TRI)

Torrent Power Limited, Ahmedabad Vs. Gujarat Electricity Distribution ...

Court : Appellate Tribunal for Electricity APTEL

..... under or over recovery of any amount from beneficiary has to be made by the generating company directly on the basis of income tax assessment under the income tax act as certified by the statutory auditors. regulation 66(20) only restricts the income tax to be allowed on the permissible return subject to actual payment. 11. this is the only difference in the state ..... through in the tariff. this would ensure that the appellant earns permissible return of 14% stipulated in regulation 66 of the regulations and mandate of section 195a of the income tax act is also complied with. the national tariff policy stipulates that the regulatory commission may adopt rate of return as notified by the central commission with appropriate modifications taking into ..... 14% on equity. here it is pertinent to advert to the following provision of the income tax act, 1961 regarding tax on income. income payable net of tax 195. in a case other than that referred to in sub-section (1a) of section 192, the tax chargeable on any income referred to in the foregoing provisions of this chapter is to be borne by the person ..... an expense and shall be recovered from the beneficiaries. (2) any under-recoveries or over-recoveries of tax on income shall be adjusted every year on the basis of income-tax assessment under the income tax act, 1961, as certified by the statutory auditors. provided that tax on any income stream other than the core business shall not constitute a pass through component in tariff and .....

Tag this Judgment!

Sep 10 2010 (TRI)

In the Matter Of: Tamil Nadu Electricity Board Vs. Neyveli Lignite Cor ...

Court : Appellate Tribunal for Electricity APTEL

..... the appellant. 52. in view of the above ratio decided by this tribunal, the contention urged by the learned counsel for the appellant that the said regulations and provisions of income tax act would not apply to the present case is baseless. 53. it is contended by the appellant that the judgment of this tribunal in torrent power limited case is related to ..... through in the tariff. this would ensure that the appellant earns permissible return of 14% stipulated in regulation 66 of the regulations and mandate of section 195(a) of the income tax act is also complied with. the national tariff policy stipulates that the regulatory commission may adopt rate of return as notified by the central commission with appropriate modifications taking into view ..... income tax as it only relates to tax deduction at source under the income tax act. (iii) the decision in torrent power limited case in appeal no. 68/09 rendered ..... contentions urged by the appellant are as follows: (i) nlc is not entitled to reimbursement of income tax on grossed up income since clause 2.12 of regulations 2001 and clause 7 of regulations, 2004 do not provide for grossing up of income tax. (ii) section 195a of the income tax act relied upon by the central commission has nothing to do with the grossing up of the .....

Tag this Judgment!

Feb 14 2011 (TRI)

Tata Power Company Limited, Mumbai Vs. Mahrashtra Electricity Regulato ...

Court : Appellate Tribunal for Electricity APTEL

..... requirement. 14. the regulations provide that transmission licensee like the appellant shall include the estimate of income tax liability of its transmission business along with the application for determination of tariff based on the provisions of income tax act, 1961. regulation 50.2.3 provide that benefits of any income tax holding credit for unabsorbed losses or unabsorbed depreciation, etc. shall be taken into account in calculation ..... of the income tax liability. thus the intent of the regulations is that the actual income tax paid by the transmission licensee in the business of transmission ..... answered accordingly. 9. the third issue is in relation to the wrongful treatment of the income tax. according to the appellant, the state commission is required to adjust the regulatory accounts income to the taxation accounts, in particular the variations for allowances, disallowances, deductions and exemptions under the income tax act, 1961 as interpreted by this tribunal in the judgment reported in 2009 elr(aptel) 560 .....

Tag this Judgment!

Apr 27 2011 (TRI)

Maharashtra State Power Generation Co. Ltd Vs. Maharashtra Electricity ...

Court : Appellate Tribunal for Electricity APTEL

..... us first discuss the concept of deferred tax liability. the income tax is calculated according to the provisions of the income tax act wherein the page 35 of 64 appeal no. 191 of 2009 various elements for determination of income may be different from the provisions of the companies act. for example, the depreciation allowed on the assets according to the income tax act is different from that allowed according to ..... tax liability or deferred tax assets in the books of accounts of a company. the ..... the companies act. this difference will result in creation of deferred .....

Tag this Judgment!

Apr 27 2011 (TRI)

Maharashtra State Power Generation Co. Ltd, Mumbai Vs. Maharashtra Ele ...

Court : Appellate Tribunal for Electricity APTEL

..... us first discuss the concept of deferred tax liability. the income tax is calculated according to the provisions of the income tax act wherein the various elements for determination of income may be different from the provisions of the companies act. for example, the depreciation allowed on the assets according to the income tax act is different from that allowed according to the companies act. this difference will result in creation of ..... deferred tax liability or deferred tax assets in the books of accounts ..... of a company. the deferred tax liability created in a project, say in the initial years .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //