https://www.taxtmi.com/caselaws?id=767981 The ITAT Jaipur ruled in favor of the assessee regarding transfer pricing of electricity supplied from captive power plants to its cement unit. The assessee used the Comparable Uncontrolled Price method based on state electricity board rates (Rs. 7.40 per unit), while the TPO benchmarked against transactions between power producers and state boards (Rs. 4.57 per unit). The ITAT held that electricity pricing is regulated under the Electricity Act, 2003, making transactions between power producers and state boards controlled conditions, thus unsuitable for benchmarking. Following Supreme Court precedent in Jindal Steel and Power Ltd., the tribunal accepted the assessee's methodology using state electricity board rates as arm's length price, directing deletion of TPO's additions. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 28 Mar 2025 08:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767981 The ITAT Jaipur ruled in favor of the assessee regarding transfer pricing of electricity supplied from captive power plants to its cement unit. The assessee used the Comparable Uncontrolled Price method based on state electricity board rates (Rs. 7.40 per unit), while the TPO benchmarked against transactions between power producers and state boards (Rs. 4.57 per unit). The ITAT held that electricity pricing is regulated under the Electricity Act, 2003, making transactions between power producers and state boards controlled conditions, thus unsuitable for benchmarking. Following Supreme Court precedent in Jindal Steel and Power Ltd., the tribunal accepted the assessee's methodology using state electricity board rates as arm's length price, directing deletion of TPO's additions. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767981