TMI Blog2010 (7) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... that:- section 80-I(8) are not applicable in the instant case and hence the proviso to section 80-I(8) can also not be invoked, entire exercise of re-allocation of various expenses on the facts and in the circumstances of the case was unwarranted, question answered against the Revenue. - ITR NO 410/95 - - - Dated:- 2-7-2010 - ADARSH KUMAR GOEL, AJAY KUMAR MITTAL, JJ. Judgment: Adar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 80-I(8) of the Act will apply and the value of transfer of goods inter se different units taken by the assessee will not be taken to be as declared by the asses-see but the average price of the month in which the transfer took place. Accordingly, the profit was taken at a higher figure and addition was made to the declared income. On appeal, the Commissioner of Income-tax (Appeals) held th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess than the market price. In fact, the onus is on the Revenue to record a finding and to prove that the transfer of goods is at less than the market price. Instead of recording that finding, the Assessing Officer gives a certificate that the goods in the instant case had been transferred at the 'maximum realisable price'. In that view of the matter, it is clear that the pro-visions of section 80- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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