https://www.taxtmi.com/caselaws?id=378413 The ITAT Pune addressed issues concerning excessive sugarcane price payments, concessional rates for sugar given to members, and disallowance of expenses in the appeals. The judgments directed the Assessing Officers to reevaluate the matters in line with the law and relevant precedents. The ITAT Pune clarified that only the profit component of excessive sugarcane prices is non-deductible, while the remaining amount qualifies as deductible expenditure. Additionally, the ITAT Pune emphasized the need for a thorough assessment by the AO regarding the difference in prices for sugar provided at concessional rates to determine if it constitutes an appropriation of profit. en-us Fri, 12 Apr 2019 00:00:00 +0530 Mon, 15 Apr 2019 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378413 The ITAT Pune addressed issues concerning excessive sugarcane price payments, concessional rates for sugar given to members, and disallowance of expenses in the appeals. The judgments directed the Assessing Officers to reevaluate the matters in line with the law and relevant precedents. The ITAT Pune clarified that only the profit component of excessive sugarcane prices is non-deductible, while the remaining amount qualifies as deductible expenditure. Additionally, the ITAT Pune emphasized the need for a thorough assessment by the AO regarding the difference in prices for sugar provided at concessional rates to determine if it constitutes an appropriation of profit. Case-Laws Income Tax Fri, 12 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378413