https://www.taxtmi.com/caselaws?id=446733 For Section 80-IA(8), electricity transferred from a captive power unit to the assessee's other business had to be valued at the consumer-side market price ordinarily obtainable in the open market, not at the lower compulsory sale price to the State Electricity Board; the assessee's computation was therefore upheld. Rule 5(1A) did not require a separate prescribed-form option for WDV depreciation, and timely indication in the return was sufficient. A disallowance based on retracted search statements also failed because later material supported the expenditure, cross-examination was not afforded, and the factual findings were not perverse. The revenue challenge accordingly failed. en-us Wed, 06 Dec 2023 00:00:00 +0530 Tue, 16 Sep 2025 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446733 For Section 80-IA(8), electricity transferred from a captive power unit to the assessee's other business had to be valued at the consumer-side market price ordinarily obtainable in the open market, not at the lower compulsory sale price to the State Electricity Board; the assessee's computation was therefore upheld. Rule 5(1A) did not require a separate prescribed-form option for WDV depreciation, and timely indication in the return was sufficient. A disallowance based on retracted search statements also failed because later material supported the expenditure, cross-examination was not afforded, and the factual findings were not perverse. The revenue challenge accordingly failed. Case-Laws Income Tax Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446733