https://www.taxtmi.com/caselaws?id=383677 The High Court dismissed the Revenue's appeal and upheld the ITAT's decision to allow the deduction under Section 80IA for the captive power plant based on the rate at which Gujarat Electricity Board (GEB) supplied power to consumers. The Court emphasized the importance of considering GEB's power supply rate rather than that of power generating companies for calculating deductions under Section 80IA. The judgment clarified the interpretation of Section 80IA and highlighted the necessity of determining the market value of goods or services for accurate deductions. en-us Tue, 23 Jul 2019 00:00:00 +0530 Sat, 27 Jul 2019 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383677 The High Court dismissed the Revenue's appeal and upheld the ITAT's decision to allow the deduction under Section 80IA for the captive power plant based on the rate at which Gujarat Electricity Board (GEB) supplied power to consumers. The Court emphasized the importance of considering GEB's power supply rate rather than that of power generating companies for calculating deductions under Section 80IA. The judgment clarified the interpretation of Section 80IA and highlighted the necessity of determining the market value of goods or services for accurate deductions. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383677