https://www.taxtmi.com/caselaws?id=61545 A transaction is not a sale unless property in goods passes under a contract for money consideration; where milling charges were adjusted by delivery of rice bran and phuck, the arrangement was barter or exchange, not local sales. The notional market value of the by-products therefore could not be treated as domestic turnover for deduction under section 80HHC, because no money passed and no sale contract existed between the parties. Authorities cited by the department were distinguished on their facts, and the assessee succeeded on this issue. en-us Tue, 28 Feb 2006 00:00:00 +0530 Thu, 13 Jan 2011 12:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61545 A transaction is not a sale unless property in goods passes under a contract for money consideration; where milling charges were adjusted by delivery of rice bran and phuck, the arrangement was barter or exchange, not local sales. The notional market value of the by-products therefore could not be treated as domestic turnover for deduction under section 80HHC, because no money passed and no sale contract existed between the parties. Authorities cited by the department were distinguished on their facts, and the assessee succeeded on this issue. Case-Laws Income Tax Tue, 28 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61545