https://www.taxtmi.com/caselaws?id=16533 Agricultural income from green tea leaves transferred to an assessee's tea unit must be computed using the value finally determined under rule 7, rather than an internal notional transfer value credited in the accounts. Where assessment records show that the rule 7 value was accepted and the difference from the book value was addressed, revision on the mistaken premise that only the notional value governed is vitiated by an error apparent on the record. The revisional order and consequential revised assessment were set aside, with the assessing authority free to proceed in line with the Tribunal's directions. en-us Tue, 02 Sep 1997 00:00:00 +0530 Tue, 08 Sep 2009 13:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16533 Agricultural income from green tea leaves transferred to an assessee's tea unit must be computed using the value finally determined under rule 7, rather than an internal notional transfer value credited in the accounts. Where assessment records show that the rule 7 value was accepted and the difference from the book value was addressed, revision on the mistaken premise that only the notional value governed is vitiated by an error apparent on the record. The revisional order and consequential revised assessment were set aside, with the assessing authority free to proceed in line with the Tribunal's directions. Case-Laws Income Tax Tue, 02 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16533