https://www.taxtmi.com/caselaws?id=275035 Whether the assessee could be assessed on the notional difference between the market price of sugar and the concessional price charged to cane growers was the dominant issue. The HC held that the concessional element operated as a permissible rebate/benefit passed on to member-suppliers and was covered by CBDT Circular No. 117, which recognizes deduction/exclusion for rebates passed on by cooperative consumer stores to their members; the Revenue's attempt to distinguish the precedent on facts was rejected. Consequently, no substantial question of law arose, the deletion of the addition was sustained, and the Revenue's appeal was dismissed. en-us Tue, 30 Jun 2009 00:00:00 +0530 Mon, 12 Jan 2026 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275035 Whether the assessee could be assessed on the notional difference between the market price of sugar and the concessional price charged to cane growers was the dominant issue. The HC held that the concessional element operated as a permissible rebate/benefit passed on to member-suppliers and was covered by CBDT Circular No. 117, which recognizes deduction/exclusion for rebates passed on by cooperative consumer stores to their members; the Revenue's attempt to distinguish the precedent on facts was rejected. Consequently, no substantial question of law arose, the deletion of the addition was sustained, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 30 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275035