ITAT Rejects TP Adjustment Due to Incorrect Benchmarking of Power Tariff

DCIT Vs Gopani Iron and Power (India) Pvt. Ltd. (ITAT Nagpur) In this case, the Revenue filed four appeals before the Income Tax Appellate Tribunal (ITAT), Nagpur, against separate orders of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Years 2017–18, 2018–19, 2020–21, and 2021–22. Since the facts and issues were identical across all years, the Tribunal treated AY 2017–18 as the lead case. The assessee was engaged in manufacturing and trading in power, steel, and energy, and operated a captive power plant (CPP) supplying electricity to its own industrial units. For...