Captive Power Market Value, Section 80-IA, Must Follow SEB’s Consumer Tariff

JCIT Vs Premier Mills Pvt. Ltd. (ITAT Chennai) Market Value for 80-IA Captive Power Must Be SEB’s Consumer Tariff—Jindal Steel Applies Even After Amendment; ALP Cannot Replace Market Price The Revenue filed appeals for AYs 2017-18 & 2018-19 against the CIT(A)’s orders allowing Premier Mills’ claim of deduction u/s 80-IA for its captive wind energy unit, following the Supreme Court ruling in Jindal Steel & Power Ltd. The dispute concerned the transfer price of electricity supplied by the Assessee’s windmill to its textile division. The Assessee adopted TANGEDCO’s consumer ta...