https://www.taxtmi.com/caselaws?id=785798 Deduction for an electricity producer under the statute turned on whether the assessing officer correctly assessed the open market value of power for computing the deduction. The tribunal found the AO erred in using purchaser tariffs instead of the assessee's intra-unit transfer price, treating the AOs figures as not representing open market value; consequence: deduction was allowed. The appellant relied on an earlier Supreme Court precedent answering the issue against revenue, and the Supreme Court dismissed the revenues appeal, leaving the tribunals allowance intact. en-us Wed, 28 Jan 2026 00:00:00 +0530 Sat, 31 Jan 2026 08:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785798 Deduction for an electricity producer under the statute turned on whether the assessing officer correctly assessed the open market value of power for computing the deduction. The tribunal found the AO erred in using purchaser tariffs instead of the assessee's intra-unit transfer price, treating the AOs figures as not representing open market value; consequence: deduction was allowed. The appellant relied on an earlier Supreme Court precedent answering the issue against revenue, and the Supreme Court dismissed the revenues appeal, leaving the tribunals allowance intact. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785798