https://www.taxtmi.com/caselaws?id=203599 The court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal, ruling in favor of the assessee. It found that the prices of imported raw materials were reasonable and not excessive, dismissing the Assessing Officer's addition under section 40A(2)(b) of the Income-tax Act. The court emphasized that the burden of proof shifted to the department to demonstrate excessive pricing, which it failed to do. The appeal was ultimately dismissed, affirming the lower authorities' decisions. en-us Wed, 20 Apr 2011 00:00:00 +0530 Mon, 07 Nov 2011 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203599 The court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal, ruling in favor of the assessee. It found that the prices of imported raw materials were reasonable and not excessive, dismissing the Assessing Officer's addition under section 40A(2)(b) of the Income-tax Act. The court emphasized that the burden of proof shifted to the department to demonstrate excessive pricing, which it failed to do. The appeal was ultimately dismissed, affirming the lower authorities' decisions. Case-Laws Income Tax Wed, 20 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203599