Section 80IA Value of electricity provided to sister concerns generated in assessee’s own captive plant

CIT- LTU Vs M/s. Reliance Industries Ltd. (Bombay High Court) Assessee provided electricity generated by its captive power generating plant to its another units, then while computing deduction under section 80-IA of Income Tax Act, 1961, the value of electricity provided to another unit was to be at the rate for which electricity distribution companies were allowed to supply electricity to consumers. High Court held held that valuation of electricity provided to another unit should be at rate at which electricity distribution companies were allowed to supply electricity to consumers. FULL TEXT...