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Judgment Search Results Home > Cases Phrase: income tax act Court: appellate tribunal for electricity aptel appellate jurisdiction Year: 2014 Page 1 of about 12 results (0.151 seconds)

May 30 2014 (TRI)

Maharashtra State Electricity Distribution Co. Ltd Vs. Maharashtra Ele ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : May-30-2014

..... . any change in income tax liability on account of assessment under the income tax act 1961 shall be dealt with as being on account of uncontrollable factor. 28. in the present case ..... is reproduced as under: 76.2.2 the distribution licensee shall include an estimate of his income-tax liability along with the application for determination of tariff, based on the provisions of the income tax act, 1961: provided that any change in such income-tax liability on account of assessment under the income-tax act, 1961 shall be dealt with as being on account of uncontrollable factors:? according to the ..... regulations, the distribution licensee has to estimate the income tax liability based on the provisions of the income tax act, 1961 and claim the same in the arr .....

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Feb 18 2014 (TRI)

Punjab State Transmission Corporation Limited Vs. Punjab State Electri ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Feb-18-2014

..... business, shall be 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. return on equity: return on equity shall be computed on the equity base determined in ..... losses applicable as per the provisions of the income tax act, 1961 shall be fully passed on to the customers/consumers.? 8. the main thrust of ..... the generating company or the licensee. 2. tax on income, if actually liable to be paid, shall be limited to tax on return on equity allowed, excluding incentives. 3. the tax on income shall be considered at income tax rate including surcharge, cess, etc as applicable during the relevant year in accordance with the provisions of income tax act, 1961 duly amended from time to time. ..... 4. the benefits of tax holiday and the credit for carrying forward .....

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May 02 2014 (TRI)

Bangalore Electricity Supply Company Limited and Others Vs. Tata Power ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : May-02-2014

..... 1.4.2001, section 115 jb i.e. the provision of minimum alternate tax (mat) was introduced in the income tax act. under section 115 jb, in cases where the income tax, payable by a company on its total income as computed under the income tax act for any financial year, is less than a specified percentage of the book ..... of refund. (g) that in terms of section 115 jaa of the income tax act, a tax credit was allowed to the assessee company for the mat paid over and above the income tax payable under the provisions of the income tax act. such tax credit was allowed to be carried forward and adjusted by the assessee company ..... to repay the amount paid to it towards mat liability, which gets set-off in future years as provided under section 115 jaa of the income tax act, 1961. thus, tata power has been directed by the learned state commission to furnish a bank guarantee and that too for the next 10 ..... cogent reason to differ from the findings recorded in the impugned order. the interpretation of section 115-jb and section 115-jaa of the income tax act, 1961 are involved and the same has rightly and legally been done by the learned state commission in the impugned order dated 10.10. ..... specified percentage of the book profits becomes payable as mat or the tax payable for that year. all the other provisions of the income tax act are applicable to tax paid as mat, just as the same are applicable to regular income tax payable under the income tax act. (i) that according to the law laid down by the .....

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May 30 2014 (TRI)

Torrent Power Limited, Vs. Gujarat Electricity Regulatory Commission

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : May-30-2014

..... or quantities of electricity supplied to such eligible consumers shall be attributable to controllable factors; (e) transmission loss; (f) variation in market interest rates; (g) taxes and statutory levies; (h) taxes on income: provided that where the applicant or any interested or affected party believes, for any variable not specified above, that there is a material variation or expected variation in ..... in tariff shock to some of the consumers. in our opinion, the state commission may consider imposition of additional surcharge provided for under section 42(4) of electricity act to meet the fixed cost of the distribution licensee arising out his obligation to supply. however, this would require detailed examination of the matter by the state commission and ..... existing structure, the consumer eligible for open access i.e. large ht consumers cross subsidize smaller lt consumers. to protect the interests of smaller consumers and license, the electricity act provides for recovery of cross-subsidy surcharge from such open access consumers. however, cross subsidy surcharge is nil or very low in case of the appellant, hence, practically no ..... deny revenue gap due to delay in filing the petition. 15. let us examine the tariff policy notified by the central government in compliance with section 3 of the electricity act, 2003. the relevant para 8.1 (7) is reproduced as under: appropriate commission should initiate tariff determination and regulatory scrutiny on a suo moto basis incase the .....

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Jan 03 2014 (TRI)

In the Matter Of: Lanco Amarkantak Power Ltd., Vs. Haryana Electricity ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Jan-03-2014

..... expenses for the relevant year. ix) interest on working capital: the norms for working capital and interest thereon shall be as per regulation 16(vi). x) income tax: the tax on income streams of the generating company from its core business, shall be computed as expense at rates applicable from time to time and shall be recovered from the beneficiaries ..... , where there are no specific financial and operational norms in the state commissions regulations, the central commissions tariff regulations have to be considered. section 61 of the electricity act, 2003 provides that in determining the terms and conditions of tariff the state commission should be guided by the central commissions regulations. the relevant tariff regulations of the central ..... ,2004 would apply subject to capped tariff. on the other hand, ptc(r-3) contended that the tariff should be determined as per the provisions of the electricity act,2003 and the regulations framed thereafter. 41. however, the state commission instead of applying cerc tariff regulations,2009 as claimed by the appellant has applied state commission regulations, ..... state commission that cerc tariff regulations alone should apply. the ptc contended before the state commission that the tariff should be determined as per the provisions of the electricity act,2003 and regulations framed thereafter. even the terminated ppa provided for the applicability of the cerc tariff regulations. however, the state commission has applied the state commissions .....

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Jan 08 2014 (TRI)

Jamshedpur Utilities and Services Company Ltd. Vs. Jharkhand Electrici ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Jan-08-2014

..... review on the second issue. it is against this order of rejection passed in the review petition dated 6.11.2012 in respect of the assessable income for income tax, the appellant has preferred this appeal. 38. as stated earlier, the state commissions contention is that the instant appeal is not maintainable as barred by ..... by this tribunal which ultimately rejected the said contention. 21. this tribunal in the above case took note of section 120 (2) of the electricity act, 2003 which provides that the appellate tribunal shall have the same powers as are vested in the civil court under the code of civil procedure while trying ..... the cpc would not apply but has recognized the power to pass interim orders under section (2) of 94 of the act. hence, there is no bar provided for appeal in those cases. but, in the case of review, the parliament had decided that the application must ..... other incident of review such as rule 7 of order 47, the same would have been incorporated for separately. (h) section 94(2) of the act, 2003 deals with the powers of the appropriate commission to pass interim orders. in this section, the parliament has chosen to say specifically that provisions of ..... by the appellant in the light of the order 47 rule 7 cpc is appealable before this tribunal within the meaning of section 111 of the electricity act, 2003 ? 9. on this question, elaborate arguments were advanced by both the parties. 10. let us refer to the gist of the arguments made .....

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Mar 11 2014 (TRI)

Bihar Industries Association Sinha Library Road Vs. Bihar Electricity ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Mar-11-2014

..... commission has recorded cogent reasons for arriving at the said finding. this issue is also decided against the appellant. 33. issue no. f this issue relates to implementation of electricity act, national tariff policy, national electricity policy and judgments of this appellate tribunal while dealing with the cross subsidies to categories such as kutir jyhoti and irrigation. the main submission of ..... refuting the aforesaid submission of the appellants learned counsel on this issue, the learned counsel for the respondent no.3 has contended that according to section 46 of the electricity act, 2003, the licensees are authorized to recover its expenses reasonably for providing electric line or plant used for giving electricity supply to the consumers. while supplying power to a ..... while deciding this issue and the findings of the state commission on this issue is just proper and reasonable to which we also agree. under the provisions of the electricity act, 2003 the state commission has rightly allowed the licensee premium on the consumers in notified areas on assurances of 24 hours electricity supply exclusive of grid failure, force majeure, ..... the grant given by the state govt., being diverted towards setting off extra tandd losses because they are not being taxed for the gap between the revenue and expenditure of the respondent and there being no other source other than the tariff income from the consumers or grant from the govt., the respondent has to fall back on the support of the .....

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Mar 07 2014 (TRI)

Nhdc Limited (Ajv of Nhpc and Gomp) Vs. Central Electricity Regulatory ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Mar-07-2014

..... to substantiate the plea that the appeal is maintainable, has cited the following decisions: (a) u.j.s chopra vs state of bombay: air 1955 sc 633; (b) commissioner of income tax, bombay vs. m/s. amritlal bhogilal and co: air 1958 sc 868; (c) madan gopal rungta vs secretary to the government of orissa: air 1962 sc 1513; (d) state of ..... : 1974 (2) scc 453; (f) sushil kumar sen vs state of bihar: air 1975 sc 1185; (g) kothari industrial corpn ltd., vs agricultural income tax officer: (1998) 230 itr 306; (h) hindustan aeronautics ltd., bangalore vs commissioner of income tax, karnataka: (2000) 5 scc 365; 18. the learned counsel for the contesting respondent after distinguishing all these judgments referred to by the appellant, has ..... of interest. this could not be fastened on the procurers but has to be absorbed by the generators like the appellant. (c) as per section 79 (4) of the electricity act, 2003 the central commission can regulate tariff only in accordance with the policy guidelines provided under the national electricity policy and tariff policy. as per the tariff policy, the central ..... learned counsel for the parties are as follows. 15. the learned counsel for the r-2 raising the preliminary question has made the following submissions: section 94 of the electricity act, 2003 provides that the appropriate commission may entertain review petition and the powers of the civil court under civil procedure code with reference to the review jurisdiction would be applicable in respect .....

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Apr 02 2014 (TRI)

M/S. Hi Tech Carbon Vs. Uttar Pradesh Electricity Regulatory and Other ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Apr-02-2014

..... of 4% per annum for subsequent years without compounding?. the other provisions mentioned in scheduled-ii of regulation in respect of the rate shall also be applicable. except for income tax, all other taxes, duties and other levies imposed by the central and/or state government or other local authorities directly relating to generation shall be payable by discom on production of necessary ..... surplus capacity based on the model ppa available as annexure. however, the parties to the agreement may make plant/site specific changes in the model ppa not inconsistent with the act, 2005 regulations and other relevant regulations but such changes shall be subject to approval of the state commission. 15. schedule ii of the regulations specifies the tariff for generation, co .....

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Apr 23 2014 (TRI)

Nabha Power Limited and Another Vs. Punjab State Power Corporation Ltd ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

Decided on : Apr-23-2014

..... mentioned in the rfp or (c) the cost of implementing environmental management plan for the power state (d) deleted but shall not include (i) any change in any withholding tax on income or dividends distributed to the shareholders of the seller, or (ii) change in respect of ui charges or frequency intervals by an appropriate commission.? 19. we do not find any ..... c) the in-principle? approval granted by the northern railway on 5.11.2008 is a statutory approval for all intents and purposes. d) in terms of the indian railways act, 1989, and indian railway code for traffic (commercial) department issued by the railway board, the appellants could not have undertaken any work in respect of executing the railway siding, which ..... failure to provide the correct information regarding seismic zone in the ppa. 23. we find that in the present case the project has been developed under section 63 of the act through tariff based competition bidding case 2 (with pre-identified site) in accordance with the standard bidding guidelines issued by the central government. the object of the guidelines are as ..... state electricity regulatory commission (state commission?) is the respondent no.2. d) the erstwhile electricity board intending to procure power through tariff based competitive bidding under section 63 of the act, decided to invite bids from the project developers to set up a 2x700 mw thermal power project at rajpura. in terms of the competitive bidding guidelines, the electricity board incorporated .....

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