https://www.taxtmi.com/caselaws?id=271754 The ITAT dismissed the Revenue's appeal and upheld the First Appellate Order, allowing the claimed deduction under sec. 80IA for the assessee. The court justified the deduction despite the absence of actual profit in the power unit, emphasizing entitlement to deduction for notional income from captive electricity consumption. Additionally, the court accepted the cost formula based on energy ratio over steam pressure ratio and upheld the efficiency rate of 85-86%, rejecting the Assessing Officer's proposed further reduction. en-us Wed, 13 Jan 2016 00:00:00 +0530 Tue, 09 Feb 2016 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271754 The ITAT dismissed the Revenue's appeal and upheld the First Appellate Order, allowing the claimed deduction under sec. 80IA for the assessee. The court justified the deduction despite the absence of actual profit in the power unit, emphasizing entitlement to deduction for notional income from captive electricity consumption. Additionally, the court accepted the cost formula based on energy ratio over steam pressure ratio and upheld the efficiency rate of 85-86%, rejecting the Assessing Officer's proposed further reduction. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271754