This paper investigates the simultaneous wireless power and information transfer (SWPIT) for network-coded two-way relay transmission from an information theoretical viewpoint, where two sources exchange information via an energy harvesting relay. By considering the time switching (TS) relay receiver architecture, we present the TS-based two-way relaying (TS-TWR) protocol. In order to explore the system throughput limit with data rate fairness, we formulate an optimization problem under total power constraint. To solve the problem, we first derive some explicit results and then design an efficient algorithm. Numerical results show that with the same total available power, TS-TWR has a certain performance loss compared with conventional non-EH two-way relaying due to the path loss effect on energy transfer, where in relatively low and relatively high SNR regimes, the performance losses are relatively small.