The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

50C of the Act providing for adoption of the guideline value as the consideration for transfer of a capital asset, Section 80IA(8) requiring adoption of market value of goods in place of the actual - - 15 sale price in the cases of certain specified sales, and the transfer pricing rules, it held the Assessing Authority does not have the power