https://www.taxtmi.com/caselaws?id=461162 The ITAT Chennai upheld the CIT(A)'s decision to delete transfer pricing adjustments made by the AO/TPO regarding power purchased from captive power generation units for computing deduction under section 80IA. Following precedent from India Cements Ltd and Reliance Industries Ltd, the Tribunal held that for section 80IA deduction purposes, the rate at which power distribution companies supply to consumers should be adopted rather than the rate at which power generating companies supply to distribution companies. The revenue's appeal was dismissed, confirming the deletion of additions made towards the windmill division's transfer pricing adjustment. en-us Thu, 30 Nov 2023 00:00:00 +0530 Tue, 18 Mar 2025 19:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461162 The ITAT Chennai upheld the CIT(A)'s decision to delete transfer pricing adjustments made by the AO/TPO regarding power purchased from captive power generation units for computing deduction under section 80IA. Following precedent from India Cements Ltd and Reliance Industries Ltd, the Tribunal held that for section 80IA deduction purposes, the rate at which power distribution companies supply to consumers should be adopted rather than the rate at which power generating companies supply to distribution companies. The revenue's appeal was dismissed, confirming the deletion of additions made towards the windmill division's transfer pricing adjustment. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461162