2025 (9) TMI 293

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....61 (hereinafter referred to as the "Act") and relates to Assessment Year (A.Y.) 2015-16. 2. Grounds raised by the Revenue are as under: "1. On the facts and circumstances of the case and in law, the Ld.CIT(A) erred in deleting the disallowance of Rs. 42,27,233/ on account of depreciation on goodwill when in fact no goodwill was created on account of merger of Narmada Chematur Petrochemicals Limited (NCPL) particularly when assessee itself was the promoter of NCPL 2(i) The Ld. CIT(A) erred in deleting the addition of Rs. 52,00,09,678/- by accepting the assessee's benchmarking for inter unit sale of electricity instead of adopting the ALP of Rs. 4.04/kWh. 2(ii) On the facts and circumstances of the case and i....

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....d by the ITAT and even the Hon'ble High Court in the preceding years. That following the orders of the higher judicial authorities in the case of the assessee itself, Ld.Counsel for the assessee pointed out, the Ld. CIT(A) had deleted the additions made on these issues in the case of the assessee noting no distinction on facts in the present year. 4. Ld. Counsel for the assessee pointed out that the two issues arising in the case of the assessee pertained to: i. Claim of depreciation on goodwill; & ii. Determination of Arms' Length Price for deduction u/s. 80IA of the Act. 5. With respect to the issue of claim of depreciation on goodwill, Ld. Counsel for the assessee pointed out that the assessee had acquired through....

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..... With respect to the issue of claim of deduction u/s. 80IA of the Act, Ld. Counsel for the assessee pointed out that the facts of the case was that the assessee had calculated deduction u/s. 80- IA(4)(iv)(a) of the Act of Rs. 52,11,90,721/- consisting of Rs. 18,95,05,821/- for Wind Mills Project and Rs. 33,16,84,900/- for Co-generation Power and Steam Unit ('CPSU'). The TPO, however, observed that the deduction had been claimed on Arms' Length Price ('ALP'), which was determined by the assessee on the basis of the yearly average per unit electricity rate charged by DGVCL to the non-eligible unit. As per the analysis in the TP Report filed by the assessee, the transaction was benchmarked using an internal CUP with the manufacturing units as....