https://www.taxtmi.com/caselaws?id=13546 The Tribunal ruled in favor of the Revenue and against the assessee for assessment years 1976-77 and 1977-78. The Tribunal allowed deductions for market fees on sugarcane purchased in the market area but disallowed deductions for the sale of sugar and molasses. It was determined that there was no provision for market fee payment on sugar and molasses sales under the Bihar Agricultural Produce Markets Act, 1960. Consequently, the High Court answered the question of law in favor of the Revenue, upholding the disallowance of market fee deductions for sugar and molasses sales. en-us Tue, 26 Sep 2006 00:00:00 +0530 Fri, 29 May 2009 15:58:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13546 The Tribunal ruled in favor of the Revenue and against the assessee for assessment years 1976-77 and 1977-78. The Tribunal allowed deductions for market fees on sugarcane purchased in the market area but disallowed deductions for the sale of sugar and molasses. It was determined that there was no provision for market fee payment on sugar and molasses sales under the Bihar Agricultural Produce Markets Act, 1960. Consequently, the High Court answered the question of law in favor of the Revenue, upholding the disallowance of market fee deductions for sugar and molasses sales. Case-Laws Income Tax Tue, 26 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13546