https://www.taxtmi.com/caselaws?id=208296 The High Court ruled in favor of the assessee, holding that section 80-I(8) of the Income-tax Act was not applicable as the goods were transferred at market price, thus rejecting the Assessing Officer's adjustment. The Court emphasized the significance of factual evidence and market value in determining tax deduction eligibility, ultimately deciding against the Revenue and in favor of the assessee for the assessment year 1989-90. en-us Fri, 02 Jul 2010 00:00:00 +0530 Mon, 17 Dec 2012 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208296 The High Court ruled in favor of the assessee, holding that section 80-I(8) of the Income-tax Act was not applicable as the goods were transferred at market price, thus rejecting the Assessing Officer's adjustment. The Court emphasized the significance of factual evidence and market value in determining tax deduction eligibility, ultimately deciding against the Revenue and in favor of the assessee for the assessment year 1989-90. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208296