https://www.taxtmi.com/caselaws?id=59595 The Tribunal upheld the CIT(A)'s decisions, affirming the assessee's entitlement to deductions under section 80-IA for captive power units, as the statutory requirement for external sales was not mandated. The transfer price for power was to be based on the average cost paid to KSEB, excluding extraneous charges. Additionally, the Tribunal confirmed that section 145A's inventory valuation method should be applied prospectively, affecting only the current year's closing stock to prevent distortion of previous financials. Both appeals were dismissed, supporting the CIT(A)'s rulings on all issues. en-us Mon, 03 Apr 2006 00:00:00 +0530 Thu, 21 Mar 2024 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59595 The Tribunal upheld the CIT(A)'s decisions, affirming the assessee's entitlement to deductions under section 80-IA for captive power units, as the statutory requirement for external sales was not mandated. The transfer price for power was to be based on the average cost paid to KSEB, excluding extraneous charges. Additionally, the Tribunal confirmed that section 145A's inventory valuation method should be applied prospectively, affecting only the current year's closing stock to prevent distortion of previous financials. Both appeals were dismissed, supporting the CIT(A)'s rulings on all issues. Case-Laws Income Tax Mon, 03 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59595