C.A. No. 006931 - / 2017
COMMISSIONER OF INCOME TAX-I BARODA vs ALEMBIC LTD BARODA
Status
DISPOSED
Judges
HON'BLE MR. JUSTICE M.R. SHAH and HON'BLE MR. JUSTICE C.T. RAVIKUMAR
Order Date
07-12-2023
Filed On
31-03-2017 12:00 AM
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View Full Judgment
AI Summary
Under Section 80-IA(8) of the Income Tax Act, 1961, the "market value" of electricity for computing deduction on inter-unit transfers by captive power producers must be determined as the price ordinarily fetching in the open market, not the rate fixed under a power purchase agreement with a State Electricity Board, where such Board is the sole compelled purchaser of surplus power operating under statutory monopoly conditions.