TNEB Consumer Supply Rate, Not Purchase Rate, Relevant for Section 80IA Deduction: ITAT Chennai

Eveready Spinning Mills Pvt. Ltd. Vs ACIT (ITAT Chennai) ITAT Chennai Allows Section 80IA Deduction Because Market Value Must Match Consumer Tariff; ITAT Chennai Deletes TP Adjustment on Captive Power Transfer Due to Supreme Court Ruling; Captive Power Consumption Must Be Valued at Open Market Consumer Rate; ITAT Chennai Rejects TPO’s Electricity Procurement Benchmark for Section 80IA Claim. In , the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) partly allowed the assessee’s appeal for Assessment Year 2018-19 and allowed the appeal for Assessment Year 2022-23. The central issue...