https://www.taxtmi.com/caselaws?id=451171 The Delhi HC dismissed the revenue's appeal on multiple tax issues. The court upheld ITAT's decision allowing deduction under section 80-IA(8) for electricity valuation based on State Electricity Board rates as market value. Regarding transfer pricing, the court rejected disallowance of managerial remuneration to a related party, noting the company was profitable, complied with Companies Act provisions, and had board approval. The court also upheld proper allocation of common expenses between eligible and non-eligible units under section 80-IA, finding no flaws in the assessee's methodology. Additionally, the court directed compliance with DRP's order deleting bank guarantee commission addition under section 40(a)(ia). en-us Wed, 06 Mar 2024 00:00:00 +0530 Thu, 21 Mar 2024 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451171 The Delhi HC dismissed the revenue's appeal on multiple tax issues. The court upheld ITAT's decision allowing deduction under section 80-IA(8) for electricity valuation based on State Electricity Board rates as market value. Regarding transfer pricing, the court rejected disallowance of managerial remuneration to a related party, noting the company was profitable, complied with Companies Act provisions, and had board approval. The court also upheld proper allocation of common expenses between eligible and non-eligible units under section 80-IA, finding no flaws in the assessee's methodology. Additionally, the court directed compliance with DRP's order deleting bank guarantee commission addition under section 40(a)(ia). Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451171