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<h1>High Court rules for assessee on excess levy sugar price, correlation of loss with specific machinery items</h1> The High Court of Andhra Pradesh ruled in favor of the assessee regarding the excess levy sugar price collected and upheld the correlation of loss due to ... Appeal To CIT(A), Depreciation, Developement Rebate, Income, Remand By Commissioner(Appeals) The High Court of Andhra Pradesh ruled in favor of the assessee regarding the excess levy sugar price collected. The court also upheld the order to correlate the loss due to fluctuation in exchange rate with specific machinery items for depreciation allowance. The Tribunal clarified that the order did not automatically entitle the assessee to depreciation and development rebate.
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