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 the order of Appellate Tribunal for Electricity (APTEL) which had accepted the electricity generating firm’s claim of minimum alternate tax (MAT) for the power purchase agreement it had with the government.
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.
