https://www.taxtmi.com/caselaws?id=257420 For section 80IA(8), electricity transferred to a captive division was to be valued at market value, and the State Electricity Board's consumer tariff was treated as the proper indicator rather than the Board's purchase rate, which was fixed in a regulated environment. The assessee's basis for computing the deduction was therefore accepted. Payment made to settle a workers' dispute under the Factories Act was treated as a compensatory business outgo, not a statutory penalty, because no penal violation or labour authority penalty order was established. The expenditure was therefore allowable under section 37(1). en-us Mon, 03 Feb 2014 00:00:00 +0530 Thu, 12 Mar 2015 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257420 For section 80IA(8), electricity transferred to a captive division was to be valued at market value, and the State Electricity Board's consumer tariff was treated as the proper indicator rather than the Board's purchase rate, which was fixed in a regulated environment. The assessee's basis for computing the deduction was therefore accepted. Payment made to settle a workers' dispute under the Factories Act was treated as a compensatory business outgo, not a statutory penalty, because no penal violation or labour authority penalty order was established. The expenditure was therefore allowable under section 37(1). Case-Laws Income Tax Mon, 03 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257420