https://www.taxtmi.com/caselaws?id=429129 The court upheld the Tribunal's decisions on all issues, dismissing the appeals. The excess realization of levy price on incentive sugar was treated as a capital receipt, and incentive sugar was excluded from closing stock valuation, both based on prior decisions. The court affirmed that expenses for constructing transmission lines handed over to the Karnataka Government were revenue expenditures, referencing legal precedents. Additionally, the date for advance tax payment for interest levy under Section 234C was considered as the date the cheque was tendered, not cleared. No costs were awarded. en-us Tue, 06 Sep 2022 00:00:00 +0530 Wed, 25 Oct 2023 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429129 The court upheld the Tribunal's decisions on all issues, dismissing the appeals. The excess realization of levy price on incentive sugar was treated as a capital receipt, and incentive sugar was excluded from closing stock valuation, both based on prior decisions. The court affirmed that expenses for constructing transmission lines handed over to the Karnataka Government were revenue expenditures, referencing legal precedents. Additionally, the date for advance tax payment for interest levy under Section 234C was considered as the date the cheque was tendered, not cleared. No costs were awarded. Case-Laws Income Tax Tue, 06 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429129