https://www.taxtmi.com/caselaws?id=334103 The Court ruled in favor of the assessee on all issues raised in the appeal. It held that the subsidy received was of capital nature, allowed the management service charges, lease rental payments, and interest payable to Dhampur Sugar Mills. The Court also excluded excise duty from the closing stock and permitted the contribution to the molasses reserve fund as a statutory liability. The decision favored the assessee on all substantial questions of law, emphasizing the legitimacy and essentiality of the claimed expenses. en-us Mon, 17 Oct 2016 00:00:00 +0530 Fri, 28 Oct 2016 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334103 The Court ruled in favor of the assessee on all issues raised in the appeal. It held that the subsidy received was of capital nature, allowed the management service charges, lease rental payments, and interest payable to Dhampur Sugar Mills. The Court also excluded excise duty from the closing stock and permitted the contribution to the molasses reserve fund as a statutory liability. The decision favored the assessee on all substantial questions of law, emphasizing the legitimacy and essentiality of the claimed expenses. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334103