Allahabad HC allows deduction of additional sugarcane price as ascertained liability from income

The HC of Allahabad ruled in favor of the assessee, allowing the deduction of additional sugarcane price for the assessment year 1968-69 as a clearly ascertained liability from the computation of income, based on precedent.

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The High Court of Allahabad ruled in favor of the assessee regarding the deduction of additional sugarcane price for the assessment year 1968-69. The court held that the clearly ascertained liability is deductible from the computation of the assessee's income. The judgment was made following a previous authority.

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