https://www.taxtmi.com/caselaws?id=395199 The Tribunal directed the Assessing Officer to re-examine the addition made on account of excess sugarcane price to determine the deductible business expense portion, following Supreme Court guidance. The disallowance of harvesting and transportation expenses under Section 37 was overturned based on CBDT Circular No. 6/2007, allowing the deduction. Both appeals were allowed for statistical purposes, with the AO instructed to provide a fair hearing opportunity to the assessee during the fresh assessment. en-us Thu, 05 Mar 2020 00:00:00 +0530 Mon, 11 May 2020 11:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395199 The Tribunal directed the Assessing Officer to re-examine the addition made on account of excess sugarcane price to determine the deductible business expense portion, following Supreme Court guidance. The disallowance of harvesting and transportation expenses under Section 37 was overturned based on CBDT Circular No. 6/2007, allowing the deduction. Both appeals were allowed for statistical purposes, with the AO instructed to provide a fair hearing opportunity to the assessee during the fresh assessment. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395199