https://www.taxtmi.com/caselaws?id=308520 The Tribunal remanded both issues regarding excess sugarcane price paid to members and non-members, as well as the sale of sugar at a concessional rate to members, back to the Assessing Officer for fresh determination. The Tribunal followed the Supreme Court's guidance that the profit component in the additional price cannot be fully deducted and directed the AO to distinguish between deductible expenditure and profit. Additionally, the Tribunal emphasized considering the transition from the SMP regime to the FRP regime in 2009. The Tribunal instructed the AO to assess whether the difference between market and concessional prices should be added to the income, considering industry customs and state policies. en-us Wed, 11 May 2022 00:00:00 +0530 Fri, 30 Jun 2023 21:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308520 The Tribunal remanded both issues regarding excess sugarcane price paid to members and non-members, as well as the sale of sugar at a concessional rate to members, back to the Assessing Officer for fresh determination. The Tribunal followed the Supreme Court's guidance that the profit component in the additional price cannot be fully deducted and directed the AO to distinguish between deductible expenditure and profit. Additionally, the Tribunal emphasized considering the transition from the SMP regime to the FRP regime in 2009. The Tribunal instructed the AO to assess whether the difference between market and concessional prices should be added to the income, considering industry customs and state policies. Case-Laws Income Tax Wed, 11 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308520