It was held that the inter division of transfer of power from power plants was to be made at the price at which power was sold by the State Electricity Board to the assessee since that price was the fair market value of power in conformity with the provisions of sub-section (8) of section 80-IA of the Act. (AY. 2003-04,2006-07 to 2008-09)
Jindal Steel and Power Ltd v. Add. CIT (2022)97 ITR 516 (Delhi) (Trib)
S. 80IA : Industrial undertakings-Infrastructure development-Fair market value-Price sold by State Electricity Board to consumers-Not at which the price is supplied by assessee to State Electricity Board. [S. 80IA(8)]