https://www.taxtmi.com/caselaws?id=417598 Excess cane price paid over the statutory minimum or fair and remunerative price must be examined to separate any profit element embedded in the final price from deductible business expenditure. The Assessing Officer is required to review the assessee's accounts, balance sheet, and supporting material to determine the deductible portion, while payments to non-members also need scrutiny for excessive or unreasonable expenditure. The matter was to be reconsidered afresh in line with the governing Supreme Court ruling, with the disallowance issue restored for fresh adjudication after giving a reasonable opportunity of hearing. en-us Thu, 23 Dec 2021 00:00:00 +0530 Fri, 28 Jan 2022 09:00:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417598 Excess cane price paid over the statutory minimum or fair and remunerative price must be examined to separate any profit element embedded in the final price from deductible business expenditure. The Assessing Officer is required to review the assessee's accounts, balance sheet, and supporting material to determine the deductible portion, while payments to non-members also need scrutiny for excessive or unreasonable expenditure. The matter was to be reconsidered afresh in line with the governing Supreme Court ruling, with the disallowance issue restored for fresh adjudication after giving a reasonable opportunity of hearing. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417598