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TMI Blog2024 (5) TMI 1511X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent : Mr. Anubhav Kumar, Adv. ORDER 1. Having heard Mr. Menon, learned counsel for the appellant, we find that the instant appeal proposes the following questions for our consideration:- "A. Whether on the facts and circumstances of the case and law, the Hon‟ble ITAT has erred in law and on facts in deleting the adjustment proposed by the TPO on account of ALP adjustment of speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs. 91,49,571/- made by the AO on account of disallowance u/s 14A r.w. Rule 8D of the IT Act, 1961? E. Whether on facts & in the circumstances of the case and law, the Hon‟ble ITAT erred in law and on facts in allowing additional ground raised by the assessee for deduction of education cess amounting to Rs. 1,33,41,210/- claimed by the assessee u/s 37 of the IT Act?" 2. Insofar as Qu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we note that the exclusion of IEX appears to have been accepted while completing assessment for subsequent Assessment Year ["AY"] namely 2015-16. This is evident from the following recitals as they appear in the order of the ITAT:- "33. Further in case of the assessee for assessment year 2015-16, external corporate of purchase price of power from SEB is used as a comparable discarding the India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been included in the cost of power generation, it should not have been taken into account. We, however, find that the aforesaid issue and aspect was concerned with the transfer of steam to the non-eligible unit and for the purposes of which the assessee would have been justified in relying on the cost of production. We, therefore, are of the opinion that Question C raises no substantial issue. 6 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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