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Deduction u/s 80 IA

This query is : Resolved 
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(Querist)
24 October 2007 Dear Friends,

My company has installed Captive power plant which produces the electricity which is captively used.

I want to know whether deduction u/s 80IA is applicable to us on generation of electricity as the fact is we are not in the business of power generation but we are forging manufacturer.

Kindly Solve.
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honey

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honey (Expert)
24 October 2007 Yes it should be available..but there are fair chances of litigation...I have analysed this issue for one of our clients..
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S.RAVICHANDRAN

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S.RAVICHANDRAN (Expert)
25 October 2007 Separate Profit and Loss account for wind generation division and forging division should be maintained in order to claim 80-IA deduction.
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Mallidi Ramabrahmananda Reddy

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Mallidi Ramabrahmananda Reddy (Expert)
01 November 2007 YOU CAN NOT MAKE INCOME FROM YOURSELF. YOUR INCOME IS FROM FORGINGS BUT NOT FROM POWER GENERATION.
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