BAJAJ ENERGY PVT LTD ,MUMBAI vs. ACIT CIRCLE 3(1)(1), MUMBAI

ITA 2152/MUM/2026Status: DisposedITAT Mumbai19 June 2026AY 2020-2113 pages
AI SummaryPartly Allowed

What were the facts?

The assessee claimed deduction under section 80IA for power generation profits. The Assessing Officer restricted this deduction to business income, excluding short-term capital gains. The assessee also disputed disallowances for provident fund interest/damages and a provision for sick leave.

What did the Tribunal hold?

The Tribunal held that the deduction under section 80IA is allowable up to the Gross Total Income, not just business income, following a Supreme Court judgment. It also directed partial allowance for provident fund interest and restoration of the sick leave provision issue for verification.

What were the issues?

Whether deduction under Section 80IA can be restricted to business income, and the allowability of expenditure related to provident fund interest and sick leave provision.

Which sections of the Income-tax Act were involved?

Section 80IA,Section 80A,Section 37(1),Section 14A,Section 43B,Section 7Q,Section 14B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH

Before: SHRI AMIT SHUKLA & SHRI PRABHASH SHANKAR

For Appellant: Shri Kirit Kamdar
For Respondent: Shri Swapnil Choudhari
Hearing: 19/05/2026Pronounced: 19/06/2026

PER AMIT SHUKLA (J.M): These two appeals bearing ITA No.2152/Mum/2026 and ITA No.2153/Mum/2026 have been preferred by the assessee against separate orders of the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, both dated 18.12.2025, arising out of assessments framed under section 143(3) read with section 144B of the Income Tax Act, 1961 for Assessment Years 2018-19 and 2020-21 Bajaj Energy Pvt. Ltd., respectively. Since common facts permeate both the appeals and some of the issues arising for our consideration are interconnected, both the appeals were heard together and are being disposed of by way of this consolida

The order continues below.

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