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of <h1>Deduction under 80IA for market value of electricity affirmed by prior Supreme Court precedent; appeal dismissed</h1> Deduction for an electricity producer under the statute turned on whether the assessing officer correctly assessed the open market value of power for ... Deduction u/s 80IA - market value of electricity - As decided by HC [2013 (5) TMI 357 - CALCUTTA HIGH COURT] Tribunal allowed the claim for deduction u/s 80IA stating that, ' AO has taken figures from units of powers sold to UPPCL at 0.89 units @ Rs.24,43,159/- as against the price of assessee i.e. inter-unit transfer @ Rs.43,02,187/- per unit. We are of the view that the figures picked up by the AO from the orders of UPPCL does not represent the open market value of electricity' Appellant fairly submits that the issue involved in this appeal is answered by the judgment passed in M/s. Jindal Steel & Power Limited [2023 (12) TMI 417 - SUPREME COURT] and batch matters against the revenue. HELD THAT:- The civil appeal is, accordingly, dismissed. Outcome: Civil Appeal dismissed [No detailed order].
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