Section 80-IA Deduction Upheld as Market Value Must Be Based on Electricity Board Consumer Rates

Advertisement PCIT Vs Nalwa Steel & Power Limited (Delhi High Court) Managerial Remuneration Addition Rejected Because ITAT Findings Were Based on Facts; Allocation of Common Expenses Upheld Because Revenue Found No Defect in Assessee’s Method; Bank Guarantee Commission Relief Sustained Because AO Had to Follow DRP Directions. The appeal was filed by the Principal Commissioner of Income Tax challenging the order of the Income Tax Appellate Tribunal (ITAT) dated 31 December 2018. The Revenue proposed questions relating to the computation of deduction under Section 80-IA, managerial rem...