ITAT Upholds SEB Consumer Tariff for Section 80-IA Deduction on Captive Power Transfers

DCIT Vs Shyam Sel And Power Limited (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata, dismissed the Revenue’s appeals relating to Assessment Years 2020-21 and 2021-22 in the cases of Shyam Sel & Power Ltd. and Shyam Metalics & Energy Ltd. The principal issues concerned transfer pricing adjustments to the transfer value of electricity supplied by captive power plants to manufacturing units for computing deduction under Section 80-IA of the Income-tax Act, and the allocation of common head office expenses to eligible units. For Shyam Sel & Power Ltd. (AY 2020-21...