ITAT adjudicated a tax dispute involving wind power generation...

ITAT adjudicated a tax dispute involving wind power generation unit transfer. The tribunal held that the transfer between parties constituted a valid slump sale, thereby enabling deduction under Section 80IA(4). The assessee's claim for deduction was substantiated by proper documentation, including Form 3CEA and transaction certificates. The tribunal distinguished the case from a prior precedent involving windmill sales, affirming the eligibility for tax deduction. Furthermore, the tribunal rejected the disallowance of depreciation, confirming that depreciation was correctly computed based on the asset's written down value and in compliance with Section 43(1) of the Income Tax Act. The appeal was allowed in favor of the assessee.