https://www.taxtmi.com/caselaws?id=379901 The Tribunal set aside the impugned order and remitted the matter to the Assessing Officer (AO) for fresh determination in accordance with the law. The AO was directed to allow deduction for the price paid under clause 3 of the Control Order, 1966, and ascertain the profit component embedded in the price paid under clause 5A for members. The distribution of profits concerning non-members would be reconsidered under section 40A(2) of the Act, ensuring a fair hearing in the fresh assessment. The appeal was allowed for statistical purposes, emphasizing adherence to the Supreme Court's guidance on determining deductible expenditure related to sugarcane price payments. en-us Tue, 07 May 2019 00:00:00 +0530 Thu, 09 May 2019 06:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379901 The Tribunal set aside the impugned order and remitted the matter to the Assessing Officer (AO) for fresh determination in accordance with the law. The AO was directed to allow deduction for the price paid under clause 3 of the Control Order, 1966, and ascertain the profit component embedded in the price paid under clause 5A for members. The distribution of profits concerning non-members would be reconsidered under section 40A(2) of the Act, ensuring a fair hearing in the fresh assessment. The appeal was allowed for statistical purposes, emphasizing adherence to the Supreme Court's guidance on determining deductible expenditure related to sugarcane price payments. Case-Laws Income Tax Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379901