TP adjustment deleted as rates on which power is available via Indian Energy Exchange cannot be applied

Tata Steel Ltd Vs DCIT (ITAT Mumbai) ITAT Mumbai held that the rates on which power is available through Indian Energy Exchange cannot be applied, because these are not the rates to the consumers but rates to the DISCOMs. Accordingly, transfer pricing adjustment deleted. Facts- The assessee is a company engaged in the business of manufacturing iron and steel, bearings, Ferro alloys and sale of power and water. In so far as the transfer pricing adjustment of Specified Domestic Transactions made u/s. 80(A(8), the facts are that the assessee has three captive power plants on which claim of deduc...