https://www.taxtmi.com/caselaws?id=384858 The ITAT allowed the appeal for statistical purposes, directing a fresh consideration by the AO regarding the excess sugarcane prices paid. The ITAT emphasized the need for a detailed examination to determine the profit component embedded in the excess price paid, following a recent Supreme Court judgment. The matter was remitted to the AO for reevaluation, with instructions to allow deductions for specified payments and assess the profit component in the excess price paid, ensuring compliance with income tax law principles. en-us Fri, 19 Jul 2019 00:00:00 +0530 Mon, 26 Aug 2019 06:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384858 The ITAT allowed the appeal for statistical purposes, directing a fresh consideration by the AO regarding the excess sugarcane prices paid. The ITAT emphasized the need for a detailed examination to determine the profit component embedded in the excess price paid, following a recent Supreme Court judgment. The matter was remitted to the AO for reevaluation, with instructions to allow deductions for specified payments and assess the profit component in the excess price paid, ensuring compliance with income tax law principles. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384858