https://www.taxtmi.com/caselaws?id=779733 ITAT, Mumbai upheld that sale of electricity between the captive power plant and the manufacturing unit qualified as an SDT but the TPO's finding that related-party transactions were at arm's length must be respected; AO cannot independently reassess ALP. Challenges to disallowances under s.14A (and its application to book profit u/s 115J) were dismissed following prevailing precedents. Deductions under s.35(2AB) and additional depreciation under s.32(1) were allowed as in prior years; depreciation for earlier foreign exchange loss was granted. First appellate authority rightly admitted and accepted claims that SHIS and fertilizer subsidies are capital in nature. en-us Thu, 25 Sep 2025 00:00:00 +0530 Wed, 08 Oct 2025 11:58:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779733 ITAT, Mumbai upheld that sale of electricity between the captive power plant and the manufacturing unit qualified as an SDT but the TPO's finding that related-party transactions were at arm's length must be respected; AO cannot independently reassess ALP. Challenges to disallowances under s.14A (and its application to book profit u/s 115J) were dismissed following prevailing precedents. Deductions under s.35(2AB) and additional depreciation under s.32(1) were allowed as in prior years; depreciation for earlier foreign exchange loss was granted. First appellate authority rightly admitted and accepted claims that SHIS and fertilizer subsidies are capital in nature. Case-Laws Income Tax Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779733