https://www.taxtmi.com/caselaws?id=763401 The note discusses valuation of captive power supply for section 80IA purposes, stating that electricity transferred from a captive power plant to a manufacturing unit may be benchmarked against the State Electricity Board's rate to industrial consumers as the relevant market value. It also states that deduction under section 80IA is computed with reference to gross total income as finally assessed, rather than being confined only to business income. On section 40(a)(ia), the text records that the allowance depends on verification of timely TDS deduction and deposit, and on section 115JB and income from other sources, it notes that apparent computation errors in the assessment sheet may require correction and fresh computation. en-us Tue, 17 Dec 2024 00:00:00 +0530 Wed, 18 Dec 2024 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763401 The note discusses valuation of captive power supply for section 80IA purposes, stating that electricity transferred from a captive power plant to a manufacturing unit may be benchmarked against the State Electricity Board's rate to industrial consumers as the relevant market value. It also states that deduction under section 80IA is computed with reference to gross total income as finally assessed, rather than being confined only to business income. On section 40(a)(ia), the text records that the allowance depends on verification of timely TDS deduction and deposit, and on section 115JB and income from other sources, it notes that apparent computation errors in the assessment sheet may require correction and fresh computation. Case-Laws Income Tax Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763401