https://www.taxtmi.com/caselaws?id=763401 For section 80IA, electricity transferred from a captive power plant to a manufacturing unit is valued at the rate charged by the State Electricity Board to industrial consumers, rather than the contracted tariff for compulsory sale of surplus power. The lower-rate adjustment under specified domestic transaction provisions is therefore not sustained on that basis. Section 80IA deduction is computed with reference to gross total income as finally assessed, not solely business income. Disallowance for tax deducted at source requires verification of timely deduction and deposit before the return-filing due date. Apparent computation discrepancies affecting book profit and income from other sources require correction through fresh assessment verification. 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 For section 80IA, electricity transferred from a captive power plant to a manufacturing unit is valued at the rate charged by the State Electricity Board to industrial consumers, rather than the contracted tariff for compulsory sale of surplus power. The lower-rate adjustment under specified domestic transaction provisions is therefore not sustained on that basis. Section 80IA deduction is computed with reference to gross total income as finally assessed, not solely business income. Disallowance for tax deducted at source requires verification of timely deduction and deposit before the return-filing due date. Apparent computation discrepancies affecting book profit and income from other sources require correction through fresh assessment verification. Case-Laws Income Tax Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763401