https://www.taxtmi.com/caselaws?id=379168 The Tribunal upheld the Assessee's practice of selling goods below cost price, emphasizing that taxing authorities cannot disregard actual transaction prices in the absence of specific provisions. The Tribunal rejected the assertion that the Assessee engaged in predatory pricing to create intangibles, dismissing the valuation of intangibles as baseless. Additionally, the Tribunal ruled against treating expenditure for intangibles as capital expenditure, directing acceptance of the Assessee's declared loss. The Tribunal denied the Revenue's Miscellaneous Application, clarifying its limited power to rectify only apparent errors and not review its own orders. en-us Wed, 24 Apr 2019 00:00:00 +0530 Tue, 18 Jun 2019 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379168 The Tribunal upheld the Assessee's practice of selling goods below cost price, emphasizing that taxing authorities cannot disregard actual transaction prices in the absence of specific provisions. The Tribunal rejected the assertion that the Assessee engaged in predatory pricing to create intangibles, dismissing the valuation of intangibles as baseless. Additionally, the Tribunal ruled against treating expenditure for intangibles as capital expenditure, directing acceptance of the Assessee's declared loss. The Tribunal denied the Revenue's Miscellaneous Application, clarifying its limited power to rectify only apparent errors and not review its own orders. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379168