https://www.taxtmi.com/caselaws?id=425253 The appeal involved challenges to the disallowance of excess cane price and the sale of sugar at a concessional rate for the assessment year 2013-14. The ITAT Pune, following Supreme Court precedents, set aside the impugned orders and remitted both issues to the respective Assessing Officers for fresh consideration. The Assessing Officers were directed to determine the profit component in the cane price and the difference between market price and concessional rate for appropriate treatment. The appeal was allowed for statistical purposes, emphasizing the need for a reasonable opportunity of hearing for the assessee during the reconsideration process. en-us Mon, 04 Jul 2022 00:00:00 +0530 Mon, 18 Jul 2022 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425253 The appeal involved challenges to the disallowance of excess cane price and the sale of sugar at a concessional rate for the assessment year 2013-14. The ITAT Pune, following Supreme Court precedents, set aside the impugned orders and remitted both issues to the respective Assessing Officers for fresh consideration. The Assessing Officers were directed to determine the profit component in the cane price and the difference between market price and concessional rate for appropriate treatment. The appeal was allowed for statistical purposes, emphasizing the need for a reasonable opportunity of hearing for the assessee during the reconsideration process. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425253