https://www.taxtmi.com/caselaws?id=180774 The HC of Calcutta allowed a delay condonation application of 127 days, citing sufficient cause. Regarding the computation of profit under Section 80IA, the court sided with the assessee, agreeing that receipts for captively consumed power should be based on the purchase rate from the Board, as accepted by the CIT(A). On the interpretation of market value for surplus power, the Tribunal determined that the transfer price should reflect the market value, supported by previous decisions. As the law was settled by earlier judgments, the HC dismissed the appeal, finding no substantial question of law. en-us Wed, 10 Dec 2008 00:00:00 +0530 Tue, 05 Dec 2023 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180774 The HC of Calcutta allowed a delay condonation application of 127 days, citing sufficient cause. Regarding the computation of profit under Section 80IA, the court sided with the assessee, agreeing that receipts for captively consumed power should be based on the purchase rate from the Board, as accepted by the CIT(A). On the interpretation of market value for surplus power, the Tribunal determined that the transfer price should reflect the market value, supported by previous decisions. As the law was settled by earlier judgments, the HC dismissed the appeal, finding no substantial question of law. Case-Laws Income Tax Wed, 10 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180774