https://www.taxtmi.com/caselaws?id=177932 The ITAT ruled in favor of the appellant, a yarn manufacturing company, in a dispute over the deduction under Section 80-IA of the Income-tax Act, 1961, related to captive consumption of electricity generated by windmills. The ITAT disagreed with the Assessing Officer's approach of using the sale rate of electricity to calculate the deduction, instead supporting the appellant's use of the actual cost of electricity purchased for consumption. This decision allowed the appellant to claim a higher deduction by considering the market value of power supplied for captive consumption, based on the annual landing cost of electricity purchased. en-us Wed, 30 Nov 2011 00:00:00 +0530 Thu, 07 Sep 2017 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177932 The ITAT ruled in favor of the appellant, a yarn manufacturing company, in a dispute over the deduction under Section 80-IA of the Income-tax Act, 1961, related to captive consumption of electricity generated by windmills. The ITAT disagreed with the Assessing Officer's approach of using the sale rate of electricity to calculate the deduction, instead supporting the appellant's use of the actual cost of electricity purchased for consumption. This decision allowed the appellant to claim a higher deduction by considering the market value of power supplied for captive consumption, based on the annual landing cost of electricity purchased. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177932