1 itxa.920.10 IN THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 920 OF 2010 M/s. T Two International Private Limited .... Appellant VERSUS Commissioner of Income Tax-8 .... Respondent Mr. B. U. Jhaveri a/w Ms. Preeti Shukla for Appellant. Ms. Padma Divakar for Respondent. CORAM: J. P. DEVDHAR and R. M. SAVANT, J.J. DATED: DECEMBER 13, 2010. P.C.: The short question raised in this Appeal is whether the Tribunal was justified in holding that the transfer of raw-material at cost price by the Appellant Company to its parent company amounts to 'sale' of goods and include the sale price in the total turnover for computing deduction U/s. 10A of the Income Tax Act, 1961. The Tribunal followed its decision in the case of the assessee for earlier SSM 2 itxa.920.10 year reported in (2008) 26 SOT 583 (MUM) and held that the transaction constitutes sale. The said decision has been accepted by the appellant. In our opinion, the decision of the Tribunal to treat transfer of goods at cost constitutes sale cannot be faulted because it is not mandatory that in every sale there must be an element of profit. Accordingly, we see no merit in the appeal and the same is hereby dismissed. (R. M. SAVANT, J) (J. P. DEVDHAR, J) SSM