https://www.taxtmi.com/caselaws?id=7237 Under rule 23(2)(a), the market value of marketable agricultural produce must be based on the average of the actual prices paid at the place of supply. A Government notification fixing a minimum factory-gate price and permitting a transport rebate did not change the actual sale price received at the supply centre, and the rebate could not be deducted to compute market value unless the statute expressly allowed it. The average price therefore had to be calculated without reducing it by the notification rebate, and the issue was decided in favour of the assessee. en-us Tue, 12 Dec 1967 00:00:00 +0530 Mon, 16 Feb 2009 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7237 Under rule 23(2)(a), the market value of marketable agricultural produce must be based on the average of the actual prices paid at the place of supply. A Government notification fixing a minimum factory-gate price and permitting a transport rebate did not change the actual sale price received at the supply centre, and the rebate could not be deducted to compute market value unless the statute expressly allowed it. The average price therefore had to be calculated without reducing it by the notification rebate, and the issue was decided in favour of the assessee. Case-Laws Income Tax Tue, 12 Dec 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7237