{"id":39566,"date":"2015-10-21T12:09:40","date_gmt":"2015-10-21T12:09:40","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=39566"},"modified":"2015-10-21T12:09:40","modified_gmt":"2015-10-21T12:09:40","slug":"lanco-infratech-to-get-back-rs-175-crore-as-it-reimbursement","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/lanco-infratech-to-get-back-rs-175-crore-as-it-reimbursement","title":{"rendered":"Lanco Infratech to get back Rs 175 crore as IT reimbursement"},"content":{"rendered":"<figure id=\"attachment_37772\" aria-describedby=\"caption-attachment-37772\" style=\"width: 228px\" class=\"wp-caption alignright\"><a href=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/sitamarhi.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"37772\" data-permalink=\"https:\/\/www.legalindia.com\/news\/court-awards-10-year-jail-to-bjp-mla-two-former-mps\/sitamarhi\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/sitamarhi.jpg?fit=228%2C160&amp;ssl=1\" data-orig-size=\"228,160\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"sitamarhi\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/sitamarhi.jpg?fit=228%2C160&amp;ssl=1\" class=\"wp-image-37772 size-full\" src=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/sitamarhi.jpg?resize=228%2C160&#038;ssl=1\" alt=\"Lanco Infratech to get back Rs 175 crore as IT reimbursement\" width=\"228\" height=\"160\" \/><\/a><figcaption id=\"caption-attachment-37772\" class=\"wp-caption-text\">Lanco Infratech to get back Rs 175 crore as IT reimbursement<\/figcaption><\/figure>\n<p>The Supreme Court has allowed the claim of infrastructure developer Lanco Infratech Ltd to get back Rs 175 crore as income-tax reimbursement for its subsidiary firm Lanco Kondapalli Power Ltd (LKPL) for the financial years 2001 to 2012.<\/p>\n<p>The apex court dismissed the appeals filed by Andhra Pradesh Power Coordination Committee and state discoms against the order of Appellate Tribunal for Electricity (APTEL) which had accepted the electricity generating firm&#8217;s claim of minimum alternate tax (MAT) for the power purchase agreement it had with the government.<\/p>\n<p>The Andhra Pradesh Electricity Regulatory Commission (APERC) had earlier allowed the company to claim MAT for the period 2006-09 but not for 2001-05 on ground of limitation.<\/p>\n<p>However, Appellate Tribunal for Electricity (APTEL) passed an order on July 2, 2012 and reversed the Commission&#8217;s findings on limitation.<\/p>\n<p>Upholding the orders of APTEL and APERC in favour LKPL, the apex court said, &#8220;We find no scope to interfere with the impugned order in these appeals. The appeals are dismissed but without any order as to costs.&#8221;<\/p>\n<p>Lanco is engaged in generation and sale of electricity with its registered office at Hyderabad.<\/p>\n<p>The objective of levying MAT, as declared by Income Tax Department, is to bring into the tax net &#8220;Zero Tax Companies&#8221; which inspite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income Tax Law.<\/p>\n<p>( Source &#8211; PTI )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court has allowed the claim of infrastructure developer Lanco Infratech Ltd to get back Rs 175 crore as income-tax reimbursement for its subsidiary firm Lanco Kondapalli Power Ltd (LKPL) for the financial years 2001 to 2012. The apex court dismissed the appeals filed by Andhra Pradesh Power Coordination Committee and state discoms against [&hellip;]<\/p>\n","protected":false},"author":38299,"featured_media":37772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[31987,34277,34276,117,80,47726],"class_list":["post-39566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-law-news","tag-featured","tag-lanco-infratech","tag-lanco-infratech-to-get-back-rs-175-crore-as-it-reimbursement","tag-law","tag-legal-news","tag-supreme-court"],"yoast_head":"<!-- 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Infratech to deposit Rs 2000 crore","author":"Legal India Admin","date":"September 11, 2017","format":false,"excerpt":"The Supreme Court today directed the embattled real estate firm Jaypee associates to deposit Rs 2000 crore by October 27 with its registry and asked the NCLT- appointed interim resolution professional (IRP) to take over its management and work out a plan to protect the interests of homebuyers and creditors.\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"SC asks Jaypee Infratech to deposit Rs 2000 crore","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/right-to-criticise-300x168.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":56258,"url":"https:\/\/www.legalindia.com\/news\/adani-group-submits-non-binding-bid-for-jaypee-infratech","url_meta":{"origin":39566,"position":1},"title":"Adani Group Submits Non-Binding Bid For Jaypee Infratech","author":"Legal India Admin","date":"June 1, 2019","format":false,"excerpt":"New Delhi : Business conglomerate Adani Group has made an unsolicited and non-binding bid to acquire Jaypee Infratech Ltd. and is ready to infuse up to Rs 1,700 crore to expedite the construction of stuck housing projects of the debt-laden realty firm and deliver flats to home buyers, sources said.\u2026","rel":"","context":"In &quot;Business Law News&quot;","block_context":{"text":"Business Law News","link":"https:\/\/www.legalindia.com\/news\/category\/business-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/06\/download-2019-06-01T205908.204.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":49699,"url":"https:\/\/www.legalindia.com\/news\/sc-stays-insolvency-proceedings-jaypee-infratech","url_meta":{"origin":39566,"position":2},"title":"SC stays insolvency proceedings against Jaypee Infratech","author":"Legal India Admin","date":"September 5, 2017","format":false,"excerpt":"The Supreme Court today stayed the insolvency proceedings against real estate firm Jaypee Infratech at the National Company Law Tribunal (NCLT) and sought the firm's response on a plea seeking protection of the interests of hassled home buyers who have neither got homes, nor their money back. A bench headed\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"SC stays insolvency proceedings against Jaypee Infratech","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/03\/SC-upholds-life-term.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":52802,"url":"https:\/\/www.legalindia.com\/news\/supreme-court-asks-jal-to-deposit-rs-1000-crore-by-june-15","url_meta":{"origin":39566,"position":3},"title":"Supreme Court asks JAL to deposit Rs 1,000 crore by June 15","author":"Legal India Admin","date":"May 16, 2018","format":false,"excerpt":"The Supreme Court today asked realty firm Jaiprakash Associates Limited (JAL) to deposit an additional Rs 1,000 crore with its Registry by June 15 to provide refunds to the hassled home buyers. On submission of this amount, the liquidation proceedings against Jaypee Infratech Limited (JIL), a subsidiary of holding company\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/delhi.jpg?fit=570%2C400&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/delhi.jpg?fit=570%2C400&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/delhi.jpg?fit=570%2C400&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":50305,"url":"https:\/\/www.legalindia.com\/news\/sc-refuses-nod-jaypee-group-hive-off-yamuna-expressway","url_meta":{"origin":39566,"position":4},"title":"SC refuses nod to Jaypee Group to hive off Yamuna Expressway","author":"Legal India Admin","date":"October 26, 2017","format":false,"excerpt":"The Supreme Court today refused permission to embattled Jaiprakash Associates Ltd to hive-off the rights of multi-crore six-lane Yamuna Expressway connecting Greater Noida with Agra in Uttar Pradesh. The apex court, however, extended the time from October 27 to November 5 for the company to deposit Rs 2000 crore. \"We\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"SC refuses nod to Jaypee Group to hive off Yamuna Expressway","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/judiciary.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":50403,"url":"https:\/\/www.legalindia.com\/news\/deposit-substantial-amount-prove-bonafide-sc-jaypee","url_meta":{"origin":39566,"position":5},"title":"Deposit substantial amount to prove bonafide: SC to Jaypee","author":"Legal India Admin","date":"November 6, 2017","format":false,"excerpt":"The Supreme Court today refused to allow Jaypee Associates to deposit to Rs 400 crore with its registry as against Rs 2,000 crore directed by it, and asked the real estate firm to submit a substantial amount to prove its bonafide. The real estate firm which was asked on September\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"Deposit substantial amount to prove bonafide: SC to Jaypee","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/08\/judiciary.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-aia","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/39566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/38299"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=39566"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/39566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media\/37772"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=39566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=39566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=39566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}