https://www.taxtmi.com/caselaws?id=64581 The departmental appeal was partly allowed. The Tribunal upheld the CIT (Appeals) decisions on the deletion of additions related to excess levy of sugar price, interest on excess levy, ex gratia payment to employees, and non-charging of interest on loans to subsidiary companies. However, the initial decision to allow the deduction of Rs. 31,70,412 as additional cane price was reversed by the Tribunal but ultimately upheld by the Third Member, confirming that the liability had accrued during the assessment year 1981-82. en-us Fri, 29 Jul 1988 00:00:00 +0530 Tue, 08 Feb 2011 16:42:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64581 The departmental appeal was partly allowed. The Tribunal upheld the CIT (Appeals) decisions on the deletion of additions related to excess levy of sugar price, interest on excess levy, ex gratia payment to employees, and non-charging of interest on loans to subsidiary companies. However, the initial decision to allow the deduction of Rs. 31,70,412 as additional cane price was reversed by the Tribunal but ultimately upheld by the Third Member, confirming that the liability had accrued during the assessment year 1981-82. Case-Laws Income Tax Fri, 29 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64581