https://www.taxtmi.com/caselaws?id=35397 The Income-tax Appellate Tribunal erred in holding that permitting the assessee to sell a higher percentage of levy-free sugar is not a revenue receipt. The Tribunal upheld the order that production incentive bonus was deductible expenditure for computing taxable income. The court disposed of the appeal by allowing the Assessing Officer to re-examine the incentive usage for loan repayment or plant expansion, while affirming the decisions on the nature of the incentive and the deductibility of production incentive bonus. en-us Fri, 22 Aug 2008 00:00:00 +0530 Fri, 16 Sep 2011 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35397 The Income-tax Appellate Tribunal erred in holding that permitting the assessee to sell a higher percentage of levy-free sugar is not a revenue receipt. The Tribunal upheld the order that production incentive bonus was deductible expenditure for computing taxable income. The court disposed of the appeal by allowing the Assessing Officer to re-examine the incentive usage for loan repayment or plant expansion, while affirming the decisions on the nature of the incentive and the deductibility of production incentive bonus. Case-Laws Income Tax Fri, 22 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35397