M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

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ITA 1875/KOL/2024Status: DisposedITAT Kolkata11 December 2025AY 2020-2021Bench: SHRI GEORGE MATHAN (Judicial Member), SHRI RAKESH MISHRA (Accountant Member)30 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the generation of steam for captive consumption does not qualify for deduction under Section 80-IA(4) as it pertains to electrical power generation and distribution. Interest under Sections 234A and 234B were directed to be recomputed.

What were the facts?

The assessee company filed its return of income for AY 2020-21. The appeal concerns adjustments made by the Transfer Pricing Officer (TPO) and Assessing Officer (AO) regarding corporate guarantee commission and the denial of deductions under Section 80G and 80-IA of the Income Tax Act.

What were the issues?

Whether corporate guarantee commission is an international transaction and if steam generation qualifies for deduction under Section 80-IA. The appeal also questioned the denial of deduction under Section 80G for CSR expenditure.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144B,Section 92CA(3),Section 92B,Section 92C(3),Section 92C(2),Section 80G,Section 135(5),Section 80-IA(iv),Section 80-IA(4),Section 234A,Section 234B

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Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

Before: SHRI GEORGE MATHAN & SHRI RAKESH MISHRA

order

: 11-December-2025 ORDER

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

1.

This appeal filed by the assessee is against the order of the Assessing Officer (hereinafter referred to as Ld. 'AO') passed u/s 143(3) r.w.s. 144C(13) r.w.s. 144B of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for AY 2020-21 dated 24.07.2024, which has been passed as per the directions of the Dispute Resolution Panel-2, New Delhi u/s 144C(5) of the Act, dated 11.06.2024.

2.

The assessee is in appeal raising the following grounds of appeal:

1. Order bad in law and on facts 1.1. That the assessment order passed by the Ld. Assessing Officer ('Ld. AO') under Section 143(3) r.w.s. 144C(13) read with Section 1448 of the Act and read with the order passed by the Ld. Transfer Pricing Officer ('TPO'), 8.8.1 Transcript of the audio of the video recording: “Visual plus process explained video As you can see this is the fuel loading system that is happening. It is loading the fuel into the system. The boiler works on two inputs. One is the fuel which we have to burn to produce energy. The other one is water which will be converted into steam and will be supplied. So what you see here is the fuel loading system. The fuel is loaded from the tanker and into the fuel tanks. From there the fuel will move to the boiler. This section is where water treatment is happening.

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