https://www.taxtmi.com/caselaws?id=422798 The Tribunal upheld the inclusion of the amount received from other sugar cooperatives as taxable income, directing the AO to rectify the assessment order. The issue was remanded back to the CIT(A) for further adjudication. Regarding the disallowance of ceremonial expenses, the Tribunal reduced the disallowance from 25% to 10%, emphasizing that ad hoc disallowances should not always be binding as judicial precedents. The appellant's appeal was partly allowed on this issue, with the Tribunal providing a detailed analysis and adjusting the disallowance. en-us Thu, 28 Apr 2022 00:00:00 +0530 Sat, 21 May 2022 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422798 The Tribunal upheld the inclusion of the amount received from other sugar cooperatives as taxable income, directing the AO to rectify the assessment order. The issue was remanded back to the CIT(A) for further adjudication. Regarding the disallowance of ceremonial expenses, the Tribunal reduced the disallowance from 25% to 10%, emphasizing that ad hoc disallowances should not always be binding as judicial precedents. The appellant's appeal was partly allowed on this issue, with the Tribunal providing a detailed analysis and adjusting the disallowance. Case-Laws Income Tax Thu, 28 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422798