https://www.taxtmi.com/caselaws?id=386657 Profit embedded in regulated cane pricing required fresh factual examination under the governing Supreme Court principles: the statutory minimum price was deductible, while the additional profit element and the non-member component had to be tested on the accounts and relevant material, so the issue was remanded. Concessional sugar sales to members or shareholders also required de novo consideration in light of industry practice, supporting resolutions and the basis for fixing concessional quantities, and was likewise remanded. Advance lease rent received for the sugar unit was contingent on the lease terms and forfeiture on breach, so it was not taxable as income of the year of receipt and the addition was deleted. en-us Mon, 30 Sep 2019 00:00:00 +0530 Fri, 04 Oct 2019 11:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386657 Profit embedded in regulated cane pricing required fresh factual examination under the governing Supreme Court principles: the statutory minimum price was deductible, while the additional profit element and the non-member component had to be tested on the accounts and relevant material, so the issue was remanded. Concessional sugar sales to members or shareholders also required de novo consideration in light of industry practice, supporting resolutions and the basis for fixing concessional quantities, and was likewise remanded. Advance lease rent received for the sugar unit was contingent on the lease terms and forfeiture on breach, so it was not taxable as income of the year of receipt and the addition was deleted. Case-Laws Income Tax Mon, 30 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386657