https://www.taxtmi.com/caselaws?id=257158 The judgment in this case favored the assessee on various issues against the revenue. The Income Tax Appellate Tribunal's order interpreting the reduction of production costs by interest and rent was decided in favor of the assessee. Deletions of additions on the sale of bagasse at a lower rate, interest on excess levy sugar price, Molasses reserve Fund, additional cane price, and depreciation on a tubewell were all ruled in favor of the assessee. The Tribunal also approved deductions on extra sale prices of sugar and directed not to disturb booked depreciation in the profit and loss account. The computation of book profit under the Income Tax Act was left unanswered as it was not raised by the revenue. en-us Mon, 16 Dec 2013 00:00:00 +0530 Tue, 03 Mar 2015 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257158 The judgment in this case favored the assessee on various issues against the revenue. The Income Tax Appellate Tribunal's order interpreting the reduction of production costs by interest and rent was decided in favor of the assessee. Deletions of additions on the sale of bagasse at a lower rate, interest on excess levy sugar price, Molasses reserve Fund, additional cane price, and depreciation on a tubewell were all ruled in favor of the assessee. The Tribunal also approved deductions on extra sale prices of sugar and directed not to disturb booked depreciation in the profit and loss account. The computation of book profit under the Income Tax Act was left unanswered as it was not raised by the revenue. Case-Laws Income Tax Mon, 16 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257158