https://www.taxtmi.com/caselaws?id=27816 Interest forgone on advances to an allied agricultural company was treated as deductible where the assessee showed commercial expediency, a direct business nexus, and a need to preserve a dependable cane supply for its sugar operations. Extra cane price paid under a business arrangement with the allied company was also held allowable because its dominant purpose was to secure and protect the assessee's raw material source, despite incidental benefit to the recipient. Additional cane price payable under clause 34(1) of the Sugarcane (Control) Order, 1955, was regarded as an ascertained statutory liability, not a contingent claim, and was deductible in the relevant assessment years. en-us Mon, 05 Sep 1983 00:00:00 +0530 Tue, 16 Feb 2010 12:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27816 Interest forgone on advances to an allied agricultural company was treated as deductible where the assessee showed commercial expediency, a direct business nexus, and a need to preserve a dependable cane supply for its sugar operations. Extra cane price paid under a business arrangement with the allied company was also held allowable because its dominant purpose was to secure and protect the assessee's raw material source, despite incidental benefit to the recipient. Additional cane price payable under clause 34(1) of the Sugarcane (Control) Order, 1955, was regarded as an ascertained statutory liability, not a contingent claim, and was deductible in the relevant assessment years. Case-Laws Income Tax Mon, 05 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27816