Sec. 37(1) of the Income-tax Act, 1961—Business expenditure - Assessee had set up a captive power generating unit and provided electricity to it's another unit and claimed deduction under section 80IA in respect of profits arising out of such activity. Valuation of electricity provided to another unit should be at rate at which electricity distribution companies were allowed to supply electricity to consumers. Revenue filed SLP before Supreme Court. Delay condoned and Leave granted.—CIT vs. RELIANCE INDUSTRIES LTD.[2020] 270 TAXMAN 019 (SC)