https://www.taxtmi.com/caselaws?id=470083 For captive power undertakings, market value under Section 80IA(8) may be based on independent third-party transactions or prevailing power-exchange rates. Where multiple valid market values exist for the relevant area and period, the assessee may select one, and the Revenue cannot substitute another valid rate to recompute eligible profits. Consideration from Certified Emission Reductions is described as a capital receipt arising from environmental measures rather than ordinary trading operations; where it contains no profit element, it is excluded from book profit under Section 115JB. The notes also address sustained disallowance of gift expenses and fresh verification of telephone and mobile expenditure. en-us Wed, 27 Apr 2016 00:00:00 +0530 Wed, 15 Jul 2026 17:49:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470083 For captive power undertakings, market value under Section 80IA(8) may be based on independent third-party transactions or prevailing power-exchange rates. Where multiple valid market values exist for the relevant area and period, the assessee may select one, and the Revenue cannot substitute another valid rate to recompute eligible profits. Consideration from Certified Emission Reductions is described as a capital receipt arising from environmental measures rather than ordinary trading operations; where it contains no profit element, it is excluded from book profit under Section 115JB. The notes also address sustained disallowance of gift expenses and fresh verification of telephone and mobile expenditure. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470083