https://www.taxtmi.com/caselaws?id=410445 The ITAT Pune remanded the case to the Assessing Officer regarding the excess sugarcane price paid to members, emphasizing the need for evidence to determine if the payment was for business expediency or profit appropriation. Additionally, the issue of selling sugar at concession rates to members was sent back for further review in line with a Supreme Court directive. Both appeals were partly allowed for statistical purposes, highlighting the importance of proper examination of expenses to distinguish between business expenditures and undue appropriations. The decision stressed compliance with legal standards and the significance of legal precedents in such matters. en-us Mon, 26 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410445 The ITAT Pune remanded the case to the Assessing Officer regarding the excess sugarcane price paid to members, emphasizing the need for evidence to determine if the payment was for business expediency or profit appropriation. Additionally, the issue of selling sugar at concession rates to members was sent back for further review in line with a Supreme Court directive. Both appeals were partly allowed for statistical purposes, highlighting the importance of proper examination of expenses to distinguish between business expenditures and undue appropriations. The decision stressed compliance with legal standards and the significance of legal precedents in such matters. Case-Laws Income Tax Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410445