https://www.taxtmi.com/caselaws?id=407881 The Tribunal, following the Supreme Court precedent in CIT Vs Tasgaon SSK Ltd., remitted the matter to the respective A.Os. for fresh consideration, allowing deduction for the price paid under clause 3 of the Control Order, while segregating the profit component for members and non-members. The Tribunal unanimously agreed that the recent Supreme Court judgment applied to the issue of deduction for excessive sugarcane price payment, directing the A.Os. to determine the profit component embedded in the price paid under clause 5A. The matter was remitted for fresh assessment in line with the articulated legal principles, dismissing the argument of awaiting the decision on the pending Review petition. en-us Mon, 24 May 2021 00:00:00 +0530 Tue, 25 May 2021 08:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407881 The Tribunal, following the Supreme Court precedent in CIT Vs Tasgaon SSK Ltd., remitted the matter to the respective A.Os. for fresh consideration, allowing deduction for the price paid under clause 3 of the Control Order, while segregating the profit component for members and non-members. The Tribunal unanimously agreed that the recent Supreme Court judgment applied to the issue of deduction for excessive sugarcane price payment, directing the A.Os. to determine the profit component embedded in the price paid under clause 5A. The matter was remitted for fresh assessment in line with the articulated legal principles, dismissing the argument of awaiting the decision on the pending Review petition. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407881